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Mangwanani, madzimai nevarume, uye tinogamuchirwa kuMurphy Oil Corporation Fourth Quarter 2019 Earnings Conference Call.[Mirairo yeOperator]
Ini zvino ndoda kuendesa musangano kuna Kelly Whitley, Mutevedzeri weMutungamiriri, Investor Relations uye Kukurukurirana.Enderera mberi.
Mangwanani, uye ndinokutendai mose nekubatana nesu pakota yedu yechina mihoro nhasi.Ndiine Roger Jenkins, Mutungamiriri uye Chief Executive Officer;David Looney, Mutevedzeri Mukuru weMutungamiri uye Mukuru wezvemari;Mike McFadyen, Mutevedzeri weMutungamiriri Mukuru, Offshore;naEric Hambly, Mutevedzeri weMutungamiriri Mukuru, Onshore.
Ndokumbira utarise kune masiraidhi eruzivo atakaisa pane iyo Investor Relations chikamu chewebhusaiti yedu sezvaunotevera pamwe neyedu webcast nhasi.Mumazuva ese emazuva ano ekugadzira mafoni manhamba, matura uye huwandu hwemari zvinogadziriswa kuti zvisasanganise kufarira kusiri kudzora muGulf yeMexico.
Slide 1, ndapota yeukai kuti mamwe emashoko akaitwa panguva iyi achatorwa semashoko anotarisa mberi sezvinotsanangurwa muPrivate Securities Litigation Reform Act ye1995. Saka, hapana vimbiso inogona kupiwa kuti zviitiko izvi zvichaitika kana kuti izvo zvichaitika maonerwo achaitwa.Zvinhu zvakasiyana siyana zviripo izvo zvinogona kuita kuti mhedzisiro chaiyo isiyane.Kuti uwane imwe hurukuro yezve njodzi, ona Murphy's 2018 Annual Report paFomu 10-K pafaira neSEC.Murphy haatore basa rekuvandudza pachena kana kudzokorora chero zvirevo zvinotarisa kumberi.
Ndatenda, Kelly.Mangwanani mese, uye ndatenda nekuteerera kufona kwedu nhasi.PaSlide 2 mukati menguva ye'19 takabudirira kuita chirongwa chedu chekambani chekugadzira zvinhu zvakayerwa nemafuta ehuwandu hwedu huri kukura mukati mekuyerera kwemari, tichigadzira kudzoka kwakanyanya uye kushandura kambani kukosha kwenguva refu sezvatinoramba tichidzosera capital ku. shareholders.
Guta redu rose re -- kugadzirwa kwedu kwegore kwakasvika 173,000 mbiya dzakaenzana pazuva nemafuta makumi matanhatu muzana, takaona kuwedzera kukuru mukugadzirwa kubva kuEagle Ford Shale asset uye Gulf yeMexico assets uye tinodada kuva shanu dzepamusoro Gulf of. Mexico operator.Zvinenge zvese kugadzirwa kwemafuta edu kunoramba kuchitengeswa nemutengo wepamusoro kuWTI, West Texas Intermediate, uye nekudaro, takagadzira madhora zana nemakumi mana neshanu emari yemahara muna 2019. Isu tinoshandisa mari idzi kuwedzera mari kubva mukutengeswa kweMalaysia yedu. midziyo yekudzosa inodarika madhora mazana matanhatu nemakumi matanhatu emamiriyoni kune vanogovanisa kuburikidza neinoenderera mberi kwekota yega dividend uye yakakosha kugovana chirongwa chekudzorera.Isu tinotenda Murphy sekambani yakashandurwa ine mukana wakakura pamberi apo isu tichienderera mberi nekuvandudza midziyo yedu yeEagle Ford Shale, Canada neGulf yeMexico ine chivimbiso chepamusoro kubva muzvirongwa zvedu zvekuongorora muGulf yeMexico, Brazil neMexico.
Kunyanya kukosha, takazivisa nhasi kuti taita memorandamu yekunzwisisa neArcLight Capital Partners, maererano ne50% yedu varidzi muKing's Quay inoyangarara yekugadzira system uye tiri kushanda zvibvumirano zvine chekuita nenhoroondo uye remangwana capital yepurojekiti, kusanganisira kudzoserwa kwemadhora zana nemakumi maviri nemashanu. miriyoni yakashandiswa muna 2019. Kuti tikurukure zvakadzama chirongwa chedu chikuru che2020 mushure mekuongorora chikamu chechina uye mhedzisiro yegore rose.
Slide 3. Kugadzirwa kwechina kwechina kwakaenzana ne194,000 dhiramu yakaenzana pazuva ne67% yemvura yakawanda, maitiro ekugadzira aisanganisira asina-akashanda asina kurongwa downtime yemadhiramu 1,900 akaenzana pazuva muGulf uye 1,000 dhiramu yakaenzana pazuva paTerra Nova semhiri kwemakungwa Canada, pamwe nekushanda zvisina kurongwa downtime ye1,500 barrel yakaenzana nekuda kwekutadza kushanda kwemidziyo yepasi pegungwa mumunda wedu weNeidermeyer muGulf yeMexico.Izvi zvakakonzera kukanganisa kwemazuva mashanu pamunda wetsime uye rimwe tsime rinoramba riri pasi kudzamara kugadziriswa kwapera nekota yechipiri 2020.
Nezve Terra Nova, isu takafanotaura kuti munda ucharamba uri pasi muna 2020 kuti ugadzirise zvigadziriso zvemidziyo yekuchengetedza uye kupedzisa basa rakamboziviswa rekuomesa.Izvi zvinoguma neinosvika zviuru zviviri zvemadhiramu ekunze kweCanada kugadzira mambure kuMurphy kune ese a2020 uye anopfuura zviuru zvitatu zvakaenzana pazuva kwekota yekutanga ya2020.
Eagle Ford Shale, kugadzirwa kwakakanganiswa ne3,600 dhiramu yakaenzana pazuva mukota yechina, nekuda kwekushanda zvakanaka - matsime anoshanda pamatsime epamusoro uye Catarina, pamwe neNew East Tilden matsime ari kuita pasi penhoroondo yeTilden matsime, asi achigadzira. pazasi pekufanotaura kwatakashandisa mukota.Pakazere, kugadzirwa kwegore rakazara 2019 kwakaenzana 173,000 pazuva kwaisanganisira 67% zvinwiwa, kunyanya mavhoriyamu emafuta akawedzera 14% kubva pagore rakazara '18 kusvika kune anopfuura zviuru zana nemakumi matatu zvakaenzana pazuva, nekuda kwechikamu chekutengesa gassier midziyo yeMalaysian, kuwedzera kwemafuta akaremerwa Gulf yeMexico kugadzirwa.
Slide 4, nzvimbo yedu yekuchengetera inoramba yakakura muna 2019 nekutengwa kweGulf yeMexico midziyo yakaderedzwa zvishoma - kugadzirisa kutengeswa kwezvivakwa zveMalaysia pakati pegore.Yedu yese yakaratidza kuchengetedza pakupera kwegore 2019 yaive 800 miriyoni yakaenzana pazuva ne57% zvinwiwa.Uye isu tinochengeta kuchengetedza hupenyu hweanoda kusvika makore gumi nemaviri.Pamusoro pezvo, takawedzera chikamu chedu chebudiriro kusvika pa57% yezviwanikwa zvese kubva pa50% muna 2018. Pakazara, yedu yegore rimwe organic reserve replacement ratio yaive 172%, ukuwo mari yedu yemakore matatu F&D ingori pasi pemadhora gumi nematatu paBOE.
Ndatenda, Roger, uye mangwanani akanaka mose.Muchikamu chechina mhedzisiro yaMurphy yakakanganiswa zvakanyanya nekurasikirwa kukuru kwemadhora zviuru zana nemakumi matatu nemakumi matatu nemadhora kumusika pamafuta edu hedges, iyo yakasvika madhora mazana mashanu nemakumi mana neshanu pamadhiramu zviuru makumi mana neshanu pazuva gore rino.Nomuzvarirwo, kuderera kwemitengo yemafuta munguva pfupi yapfuura mumazuva makumi matatu apfuura kwakabvisa zvachose kurasikirwa uku, uye kutaura zvazviri isu taizove nechiratidzo chakanaka-ku-musika pakupera kwebhizinesi nezuro kweanenge mamiriyoni makumi mashanu nematanhatu emadhora;zvakanyanya semugumisiro wekurasikirwa uku, takanyora kurasikirwa kwemamiriyoni makumi manomwe nemazana emadhora kwechikamu chechina kana kuti $ 0.46 pachikamu chimwe chete.
Nekudaro, paunogadzirisa kurasikirwa kwechiratidzo ichi-ku-musika mune zvimwe zvinhu zvishoma, takawana madhora mamirioni makumi maviri nemashanu mumari yakagadziridzwa kana madhora 0.16 pachikamu chakaderedzwa.Mari yakagadziridzwa inodzosera kwete chete kurasikirwa kwemark-ku-musika kunotaurwa pamusoro, asiwo kuwedzera kusiri kwemari muukoshi hwekufungidzira uye kurasikirwa nekuda kwekutanga kudzimwa kwechikwereti, ese ari matatu anosvika madhora zana nemakumi matatu nemasere emamiriyoni. mushure memutero.
Slide 6, chikamu chakakosha cheMurphy zano ndechekushanda mukati mekuyerera kwemari nemari yakawandisa inodzoserwa kune vanogovanisa kuburikidza nechikamu chedu chekota.Sezvauri kuona pane siraidhi, takawana kuyerera kwakanaka kwemari zvakare kwegore rakazara ra2019 kunyangwe nekutengeserana kwakakosha kwakapedzwa kutanga kwegore.Pachikamu chechina mari kubva mukushanda yakasvika madhora mazana matatu nemakumi matatu nematanhatu emadhora, ukuwo zvekuwedzera zvivakwa uye mitengo yakaoma yegomba yakauya pamadhora mazana matatu nemakumi matatu nemashanu zvichikonzera madhora miriyoni imwe mukuyerera kwemahara kwemari.Ndichacherechedza kuti izvi mushure mekufunga nezvekuchinja kwemari yekushanda yakakonzera kuti mari kubva mumabasa yadzike nemadhora mamiriyoni makumi mashanu nemanomwe.
Mugore rezvemari 2019 pamadhora bhiriyoni gumi nemazana mashanu emari kubva kumabasa akapihwa madhora bhiriyoni 1.3 ezvekuwedzera zvivakwa, nekudaro kuwana mari inosvika zviuru zana nemakumi mana nemashanu emamiriyoni emadhora emahara emwedzi gumi nemaviri.Sezvakaziviswa parunhare rwechitatu rwekota, takapedza chirongwa chekutenga miriyoni mazana mashanu emadhora muna Gumiguru 2019. Zvakare mukati mekota, takawedzera chikwereti chedu chekukura nekupihwa kwemadhora mazana mashanu nemakumi mashanu emamiriyoni e5. uye tengazve aggregate ye521 miriyoni yemadhora ezvinyorwa zvepamusoro zvakafanira muna 2022. Simba redu rezvemari uye yakagadzikana bharari redhizaini zvinoratidzwa zvakare nechikwereti chedu chemumbure kune yakagadziridzwa EBITDAX ratio ye1.5 nguva pakupera kwekota yechina.
Slide 7, Murphy zano rekutarisa kune yakakwira-marini huremu zvinhu zvinoramba zvichibhadhara i95% yemafuta edu akatengeswa zvakare mubhadharo kuWTI kwekota, kunyangwe nekuomesa misiyano mumisika yeGulf Coast.Yedu yepakati Eagle Ford Shale neNorth America offshore assets inoramba ichiburitsa mhedzisiro yakasimba ine field level EBITDA paBOE yemadhora makumi matatu nerimwe nemadhora makumi matatu padhiramu mukota, zvichiteerana.Izvi zviri pachena zvepamusoro-notch midziyo uye inoenderera mberi nekutyaira yedu yakasimba yekuyerera kwemari gore-mukati uye gore-kunze.
Slide 8, iyo yakakosha dzidziso yeMurphy zano kuenderera kudzoserwa kwemari kune vanogovanisa kuburikidza neyedu-yakareba kota yega dividend, pamwe chete nehurongwa hwekudzoreredza migove zvirongwa zvakaita sechirongwa chemamiriyoni mazana mashanu emadhora chakaitwa gore rapfuura.Izvi zvinogona kuitwa chete kuburikidza nemahara ekuyerera kwemari chizvarwa, izvo zvatakaita gore negore.Mune zvese Murphy yakadzosa mari ingangoita mabhiriyoni mana emadhora kune vanogovanisa vayo kubva muna 2012 kuburikidza negovedhi uye kugovera kudzoreredza pasina mari inopihwa.
Ndatenda, David.Slide 9 patinotanga gore redu rechimakumi manomwe sesangano rakabatanidzwa tinodada nekutonga kwedu kwemukati kwakasimba, kunotsigira mashandiro edu mukugadzikana kwemari kwese.Nhengo dzeBhodi dzedu dzine ruzivo rwakakura muindasitiri, kunyanya nekushanda muHSE uye nekutungamira kwavo uye nerutsigiro Murphy anoramba achigadzira mhinduro kumatambudziko ekuchengetedza kwezvakatipoteredza, kureva kugadzwa muHSE Committee kusvika 1994, kugadzira gore rega rega rekurudziro yekuripira zvinangwa zvakasungirirwa kune zvakatipoteredza uye. kuchengetedzwa kwekuchengetedza makore akati wandei apfuura, uye tichipa yedu yekutanga dura mushumo muna 2019. Murphy anozivikanwa neISS ndechimwe chepamusoro-soro zvibodzwa zvehurumende uye chinzvimbo che75% pamusoro peavhareji yedu yevezera.
PaSlide 10, Bhodhi redu reVatungamiriri muHSE Committee pamwe nehutungamiriri hwekambani vanoramba vakatarisa kushanduka kwemamiriro ekunze, kuchengetedzwa uye mamwe maitiro ekushanda pane zvakatipoteredza, inhengo inodada yemubatanidzwa wezvakatipoteredza Murphy anotarisisa uye anoteedzera akasiyana siyana ekuteuka kwepakarepo. zvinangwa zvemukati, zvimwe zvacho zvakasungirirwa kumuripo.Matimu anokurudzirwa kuti afunge kupfuura zvinogoneka pakupa mazano ezvibvumirano zvedu zvekushanda kwakasimba sekudzokorodza 100% yemvura yedu inogadzirwa paTupper Montney asset, kuyedza scalability yekudzikisa zvakanyanya kuburitsa gasi regreenhouse, kwenguva refu nemapombi echisikigo anopisa frac pombi mukati medu. onshore portfolio.Nepotifolio yedu nyowani, isu tinotarisira kudzikiswa kwe50% mukuburitswa kubva muna 2018 kusvika 2020.
Iye zvino kuenda kuSlide 12, Eagle Ford Shale.Nekuwedzera kwematsime gumi nemasere ari kuuya pamhepo kutanga kwekota yechina yekugadzirwa kwakaenzana ne50,000 mbiya yakaenzana nemafuta makumi manomwe nenomwe muzana, iyi nhanho yekugadzira inomiririra kuwedzera kweanopfuura makumi maviri nenhatu% kubva pachikamu chechina che'18.Nekudaro tichipihwa kuti hapana chiitiko chakaitika mumwedzi miviri yekupedzisira yegore kugadzirwa kunotarisirwa kudzikira mukota yekutanga, sezvo matsime matsva achange asina kuiswa pamhepo kwemazuva anopfuura zana.Chirongwa che2019 chematsime makumi mapfumbamwe nerimwe chinopa timu yedu yepamhenderekedzo yegungwa nzira yakakwana yekutyaira nekupedza kuita, nzvimbo dzekunatsa matsime, rig nguva uye kugadzirisa nzira dzekupedzisa.Nekuda kweizvozvo, mutengo wedu wepakati wakavandudzwa kusvika pasi pemadhora matanhatu emamiriyoni patsime.Pamwe chete neiyo yedu yepakati EUR kuita zvakanaka kuri kuramba kuchivandudza mukuwedzera kune yakazara inter-quartile renji kusimba zvakanyanya kubva 2016.
Slide 13, kubva pakutora Kaybob Duvernay acreage mu'16, isu tava nematsime anopfuura makumi masere ari kushanda pasese, kugadzirwa kwakaramba kwakapfava muchikamu chechina pa9,000 yakaenzana pazuva ne55% mafuta.Kwegore kuita zvakanaka kwakapfuura zvaitarisirwa zvingangoita makumi maviri kubva muzana, takava nezvakawanda zvatakaita munzvimbo iyi, nekuchera uye kupedza mutengo wedu wakaderera zvakanaka usingasviki madhora 6.3 miriyoni, kuchera tsime rinokurumidza kusvika nhasi mumazuva gumi nemaviri uye kuchera tsime. yakarebesa lateral kusvika-date pane anopfuura 13,600 tsoka.Sechikamu chemaitiro edu ekuenderera mberi ekuvandudza Murphy atanga kushandisa bi-fuel kudzikisa kuburitsa gasi regreenhouse uye mutengo wedhiziri muKaybob Duvernay, izvi zvakatowana kudzikiswa kwe30% kwekuburitswa kwenzvimbo ino.
Slide 14, yedu Tupper Montney asset yakagadzira 260 miriyoni cubic tsoka pazuva mukati mekota.Tinofara nezve 2019 tsime zvabuda sezvo anga achichinja uye anoenderana ne24 Bcf type curves, kuwedzera kubva pane yaimboitika ye 18 Bcf muna 2018. Pakazere, takaburitsa mari yakanaka yemahara muna 2019 neavhareji mutengo wakaonekwa. yeCAD2.15 per Mcf.
Slide 16 mubhizinesi redu reGulf yeMexico Murphy parizvino ari pane iyi ichangobva kuwedzerwa Gulf yeMexico portfolio kwemwedzi mitanhatu uye mukota yechina bhizinesi iri rakagadzira zviuru makumi masere neshanu zvakaenzana pazuva pa85% zvinwiwa.Mukota yese, takaunza matsime matatu online mushure mekupedza tie-in uye workover zviitiko.Pamusoro pezvo, sezvandambotaura, takaita memorandamu yekunzwisisa kwedu nezve King's Quay inoyangarara yekugadzira system.
Slide 17, mapurojekiti edu ari kufamba sezvakarongwa muGulf, parizvino tine chikuva chekuchera chirongwa chine matsime matatu paFront Runner pamwe nechikepe chedhiri chinoitisa maviri-kumashure-kumashure madhiri emvura, kwekutanga. mhando ya2020. Sezvatichatsanangura mapurojekiti aya pamwe chete nemamwe akanyorwa mumasiraidhi unza mamwe mavhoriyamu online kuti tirambe tichichengetedza chiyero chedu chenguva refu chekugadzira sezvakamboburitswa.Mapurojekiti edu makuru enguva refu kuKhaleesi / Mormont uye Samurai ari kufambira mberi zvakanaka pamwe neinjiniya yegungwa uye zvibvumirano zvekuvaka zvakangopihwa pasi pebhajeti.
Slide 19, yekota yekutanga 2020, isu tinotarisira kugadzirwa kwe181,000 kusvika 193,000 akaenzana pazuva achiverengera kuderera kwechisikigo uye yakarongwa nguva yekudzikira, kusanganisira inodarika zviuru zvitatu zvakaenzana pazuva zvine chekuita neTerra Nova ikasara isina mhepo.Kugadzirwa kwe190,000 kusvika 202,000 pa60% yemafuta kwakafanotaurwa kwegore rakazara re2020 zvichibva pachirongwa chikuru chemadhora bhiriyoni 1.4 kusvika kumadhora bhiriyoni 1.5.Pamari iyi, ingangoita bhiriyoni imwe nemazana maviri emadhora ebhajeti yedu yakagoverwa kumidziyo yedu muEagle Ford Shale nekumhiri kwemakungwa.
Uye kubatanidza chirongwa chedu chegore negore, chinangwa chedu chikuru ndechekuburitsa mari yakawandisa kuti tivhare chikamu chedu sezvo takawana midziyo mitsva muGulf muna 2019 pane chirongwa chimwe kuSt Malo waterflood, mari inodiwa munguva pfupi iri kutevera. kukwidziridzwa kwekugadzira kunotarisirwa mumakore matatu.Chirongwa ichi chakakanganisa kugoverwa kwedu kwemari muna 2020 sezvo kuzvipira kwedu kucash flow capex parity kwakatitungamira kuti tigadzirise hurongwa hwedu kuti tive nechokwadi chekuyerera kwemari kwakachengetedzwa.Izvi zvinotibvumira kuenderera mberi nechikamu chedu chenguva refu uye kuchengetedza ingangoita 1.5 times net chikwereti kune EBITDA ratios.
Slide 20, sezvatakakurukura muzvikamu zvakapfuura chirongwa chedu chemakore mashanu Gulf yeMexico inowana avhareji yekugadzirwa kweakaenzana 85,000.Muna 2020, mari yedu yese yemadhora mazana mana nemakumi mana inogadzira avhareji yegore rose ye86,000 yakaenzana pazuva nematsime matanhatu anoshanda uye mashanu asina kushanda anouya online gore rese.Iyo 2020 chirongwa chepurojekiti musanganiswa weplatform rigs, workovers uye tiebacks sekutsanangurwa mune yekutanga slide.Pakazere, ivo vachagadzira inosvika bhiriyoni imwe yemadhora yekushandisa mari inoyerera gore rino.
Slide 21, zvichibva papakati pekutungamira kwedu kwecapex, bhajeti redu remumahombekombe egungwa rinotarisirwa kuita madhora mazana masere nemakumi mashanu neshanu emamiriyoni makumi masere kubva muzana achipihwa Eagle Ford Shale.Tinofara kuenderera mberi nechirongwa chedu chakasimba muna 2020 mushure mekuderedza zvakanyanya kushandisa mari mumakore mashoma apfuura sezvo isu tichichengetedza nzira yedu yekugovera mari.Iwo matsime makumi mapfumbamwe nemanomwe akashanda ari kuuya online gore rino ainyanya kutariswa munzvimbo dzedu dzeKarnes neCatarina.Pamusoro pezvo, isu tine avhareji 24% yekushanda mubereko uye makumi mashanu nepfumbamwe matsime asina kushanda akarongwa kuuya online mukati megore rose, kunyanya muKarnes County.
Mukati megore ra2020, kugadzirwa kwedu kweEagle Ford Shale kwakawedzera zvakanyanya sezvakarongwa, kusvika pachiyero chechina chepakati peanopfuura zviuru makumi matanhatu zvakaenzana pazuva.Uku kukura kwakarema kwemafuta kunotidzosera kune mwero watisati tamboona mumakore akati wandei.KuKaybob Duvernay, tinoronga kushandisa madhora zana nemakumi maviri nemashanu emadhora kuunza pamhepo matsime gumi nematanhatu anoshandirwa apo tinozadzikisa kutakura kwedu kwekuchera kutanga kwegore.Iyo Kaybob Duvernay iri kuita zvinonwisa mvura mubhodhi rose ine mibairo yakasarudzika mukuchera nekupedza kuita kwakawanikwa.
MuTupper Montney yedu yakakura, tiri kugovera madhora miriyoni makumi matatu nemashanu kuti tiunze matsime mashanu pamhepo padanho rino remari shandisa matsime aya kugadzira mari yemahara pamitengo ingangoita CAD1.60 AECO.Iyo shoma inoshandiswa mukati memahara ekuyerera kwemari mune ino huru sosi yakanyatsoiswa mune yedu portfolio sechikamu chezvinodiwa zvepasi rose zvegasi rechisikigo sekutsiva marasha kwenguva refu uye yakaderera kabhoni remangwana.
Slide 22, chirongwa chedu cha2020 chinokwana muzvinangwa zvedu zvekuongorora zvenguva refu, tinoronga kushandisa mari inosvika zana remamiriyoni emadhora nekuchera matsime mana, zvichiita kuti titarise mari inodarika mazana mashanu emamiriyoni emadhora emadhiramu akaenzana nezviwanikwa.Kudivi reUS reGulf, isu tinobata 12% isiri-op kushanda kufarira muMt. Ouray zvakanaka.Tarisiro iyi inotarisirwa kupera muchikamu chechipiri.Tinofara zvikuru nezvepurogiramu yedu yematsime maviri muMexico;chekutanga, isu tinoronga spud Cholula Appraisal ichiteverwa netarisiro nyowani yakanangana neiyo yekutanga tsime remunyu muMexico inonzi Batopilas.Matsime ese ari maviri ane hunyanzvi muzvirongwa zvedu zveramangwana uye nekure Mexico.MuBrazil tinoramba tichikura tarisiro dzakati wandei, pamwe nekudyara -- pamwe kuronga kuri kuenderera mberi.Mumwe wedu anotarisira kuburitsa tsime rekutanga kutanga kwa2021.
Slide 23, paunotarisa zvirongwa zvedu mumakore mashoma anotevera, ndinotenda kuti tichakwanisa kugadzira mari inosvika bhiriyoni imwe chete nemazana mana emadhora emari yemahara mushure mekugovaniswa kwedu, tichiendesa inokwana 5% yekugadzira CAGAR, zvese tichichengetedza 60% kurema kwemafuta.Tichazadzisa izvi nekugovera paavhareji mari inosvika bhiriyoni imwe chete yemadhora emadhora pagore neiyi 1.4% kusvika 1.5% iri chirongwa muna 2020, tinotarisira kuve gore repamusoro rekushandisa mari.Mumakore mashanu anotevera, yedu Gulf yeMexico asset ichachengetedza avhareji yekugadzirwa kwepagore kweakaenzana 85,000 pazuva, uye Eagle Ford Shale parizvino inofungidzirwa kuve negumi muzana kusvika gumi nemaviri muzana yekugadzira CAGAR.Sezvatakaronga kushandisa kwedu kwepagore kwemadhora zana emamiriyoni emari nekuongorora, izvo zvinotitendera kuchera matsime matatu kusvika mashanu pagore.Ndine chokwadi chekuti unobvuma ichi chirongwa chine chinangwa chemakore akawanda.
Slide 24, patiri kupinda mugore redu rechimakumi manomwe semubatanidzwa Murphy Oil yakamira zvakanaka mune remangwana mushure mekubuda rimwe gore repamusoro quartile yakazara kudzoka kwevagovani, zvichienzaniswa neboka redu rezera isu tawana iyo 95 percentile chinzvimbo mukudzoserwa kwevagovani. mumakore matatu apfuura.Yedu ichangobva kushandurwa portfolio ine yekuongorora kumusoro ine kuenderera mberi kugona kuendesa mahara kuyerera kwemari pamusoro pemakwikwi edu egoho regoho.
Mukuvhara, ndinonzwa kuti takabudirira kuita shanduko huru apo isu tinoshandura Murphy kuita kambani yeWestern Hemisphere Oil yakatarisana.Izvi zvinotiisa pakugadzira kukosha kwenguva refu.Ndiri kunyanya kudada kuva imwe yemakambani akasarudzwa kuti aburitse mari yemahara uye yekudzorera dividend -- mibairo yakakosha kune vagoveri vedu nhasi.Uye isu tine yakasarudzika kugona kugadzira kumusoro kune vagovani vedu nekuenderera mberi kwehurongwa hwekuongorora zvirongwa.Tiri kugovera mari kune yedu yakakwira margin mafuta akaremerwa zvinhu kuti zvikure zvine pundutso, tiri kuita zvese izvi tichiramba takatarisa nzira dzekuenderera mberi nekushanda zvine mwero mune ramangwana.
Ndatenda.Madzimai nemadzishe, tichatanga zvino chirongwa chemibvunzo nemhinduro.[Operator Mirayiridzo] Mubvunzo wekutanga unobva kuna Brian Singer anobva kuGoldman Sachs.Enderera mberi.
Mubvunzo wangu wekutanga uri paChapungu Ford Shale, yawakasimbisa mune imwe yemasiraidhi, Slide 12, unotarisira here -- kana kuti wakaona maEuro epamusoro kubva kumatsime akacherwa muna 2019. Uye ndakashaya kuti ungataura nei zvinotarisirwa zviri muna 2020 zvichienzaniswa ne2019 kubva pazere mumafuta EUR maonero.Chii chaunoona seyakatarisana nenjodzi dzakadzika dzekuwana nzira yekukura iyo yaizosundira kugadzirwa ku60,000 BOE pazuva muchikamu chechina?
Zvakanaka Brian, tichaona kuenderera kwedu kwekuti ini handina chokwadi pane imwechete nzira yataive nayo munguva yakapfuura, tinoona izvi zvichivandudza zvishoma nehunyanzvi hwefrac uye kuvandudzwa kukuru kwakaitwa nechikwata chedu.Zvakare gore rino ingori chirongwa chakasiyana zvachose kupfuura gore rapfuura zvakanyanya kuremerwa muKarnes neCatarina uye zvishoma munzvimbo yeTilden kwatakanga tine matambudziko mukota yechina.Asi nzvimbo yeTilden haina chakaipa pazviri zvachose, yaive pfungwa yekuti matsime eTilden aya aifamba zvakanaka pamusoro peEUR yatinayo mumatura edu asina kugadzirwa uyezve chirongwa chedu chenguva refu, uye isu tinochengeta iyo nhanho ichibva yaenda. dzokera kunhanho yatingave nayo muurongwa hwenguva refu pamusoro pehuwandu hushoma hwematsime muchikamu chechina.
Nyaya yekugoverwa kwemari ishamwari itsva huru yeBPX, iri kushanda nesimba mushure mekutenga BHP munzvimbo yeKarnes ine mamwe akanaka kwazvo -- matsime eEagle Ford Shale ezasi uye mamwe matsime eAustin Chalk akanaka kwazvo.Saka ivo vari kutsiva yedu yakajairwa mari yekugovera muTilden uye kuti tiri kudhirowa zvakanyanya musimboti gore rino uye yakasiyana zvachose nenjodzi kupfuura makore apfuura muTilden kwatisina kuchera kwemakore akati wandei.Saka isu tine chivimbo mukuzadzisa izvo nekuda kwekukosha kwechirongwa chedu chisiri kushanda uye chirongwa chakakura kwazvo chisingashande muchikamu chechina umo gore rino takashandisa mari shoma mumwedzi miviri yadarika uye tiripo nhasi muEagle Ford. , Brian.
Hukuru.Ndatenda.Uyezve yechipiri mibvunzo yakati wandei pamhenderekedzo.Unogona here kutaura kune maitiro auri kuona padivi remutengo uye kumusoro kunopesana nenjodzi dzakadzika ipapo?Uye wobva waona zvakasiyana nguva yekudzikira uye kusagadzikana ndiyo yakajairika chikamu chekushanda chero kupi, kunyanya kumahombekombe, asi iwe unogona kutaura here nezve nzira yauri kuisa njodzi yekudonha muna 2020 kutungamira wakapihwa zvimwe zvatakaona pano nguva pfupi yadarika?
Zvakanaka, pamufananidzo wedhorobha pane marudzi maviri enguva yekudzikira munzvimbo yekumahombekombe, pane nguva yekudzikira yakabatana nekusarongeka kumberi kwakaitika kwauri nguva nenguva.Isu tine uye tine gore rino remvumo ye5% mune yedu yekugadzira macurves yenguva isina kurongwa yekudzika kana iyo yakazara nguva yekudzikira mubhizinesi redu.Chaizvoizvo muna 2020 isu tine shoma yakaronga nguva yekudzika uye iyo yakakura mvumo, zvichienzaniswa nemakore apfuura enguva isina kurongeka.Zvakanaka, zvakaoma kufanotaura pane dzimwe nguva, Brian ndiwo mamiriro ezvinhu anoitika zvakanaka senge subsea kusashanda kwezvinhu zvitsva izvi, sezvandambotaura nhasi isu tine zvinhu izvi kwemwedzi mitanhatu uye zvishandiso zvakaputsika, kana uchida kana umbilical simba uye hydraulic inotakura mutsara uye isu taifanira spool iyo kumusoro uye kuigadzirisa, izvo zvakaoma kuisa mune iyo nhanho uye isingawanzo kuitika.
Asi kubva pamaonero edu edhorobha tine izvi zvakamisikidzwa uye izvi ndizvo zvatinowanzoita uye zvatinowanzoona kunze kwezviitiko zvenguva imwe chete.Uye sezvatinonzwisisa subsea system zvirinani, tinotenda kuti tine izvozvo panguva ino uye tine izvo zvakafanotaura nechivimbo.Zvakare mukati meiyo nguva yekudzikira 5% yakanaka yegore, Brian pamusoro pemazuva makumi matatu nemakumi matanhatu nemazuva akaverengerwa -- ndiregerereiwo mazuva manomwe zero kugadzirwa muGulf yedutu kazhinji madhiramu edu muGulf haana kumbobvira apera zvachose, Handichayeuke nguva iyo Gulf yese yakadzimwa kugadzirwa, nekuti tine masisitimu emapaipi akasiyana munzvimbo dzakasiyana dzekushanda.Uye ndinonzwa kuti zvakakodzera ngozi zvakare.
Uye imwe njodzi yatakaisa mune iyi, iyo yakakosha sekunge yako barrel counter ndiyo Terra Nova asset yaifanirwa kuburitsa kusvika May uye kupinda kwemwedzi mitanhatu yakaoma-dock uye kudzoka muna Gumiguru uye nekuda kwemamiriro asingazivikanwe ikoko isu. akaenderera mberi ndokuisa iyo sezero.Saka izvo zvingadai zvakachinja nhaurirano dzedu dzekutanga dzekugadzira, seruzivo rutsva, kana izvi zvikaitika chete muna Zvita 19.Saka ini ndinofunga isu tine izvo zvakanaka, unogona kuenda uchidzikisa zero, Brian.Uye zvino tinoisa iyo mukati uye isu tine yedu yekuderera kwekutonga ne data rakawanda muGulf uye ruzivo rurefu uye ikozvino mwedzi mitanhatu yekudzidza mitsva ye subsea system yatakatenga uye tinonzwa takasununguka nezvatinazvo.
Semamiriro ezvinhu emutengo, Brian.Pachave nekuwedzera kwemitengo yezuva pamusoro penguva refu.Isu tine izvo zvakafungidzirwa muzvirongwa zvedu.Ini handidi kukurukura nezvemitengo yatinayo pane akasiyana rigs.Asi chokwadi izvo zvichange zvichiwedzera izvo, isu tichada kuwedzera ini ndinofunga kune vanopa iyo sevhisi, isu tiri kuona pazasi bhajeti pamidziyo yepasi pegungwa uye kuisirwa kwesubsea, iyo iri kukunda yakawanda yeiyo uye isu tinoramba tichiita zvinoshamisa pa zvikepe zvakakura zvekudhirowa zviri kupfuura mune chero nyaya chaiyo pamusoro pekuwedzera kwechiyero chezuva sezvo iri nezvemazuva ari panzvimbo pakupera kwezuva, uye rudzi rwebasa ratinaro kuKhaleesi / Mormont rakangogadzirirwa aya maviri ekuita mabasa anosanganisira. , kupedzisa nekuchera panguva imwe chete -- kushanda panguva imwe chete, uye handisi kunetseka nezvemitengo mune rimwe remabhizinesi edu panguva ino.Sezvo ini ndichiona kushanda zvakanaka kuchidya kuwedzera kwechiyero chezuva uye ini pari zvino, patinenge tichipa mimwe michina, inova yakaderera mubhizinesi redu rekumahombekombe.
Hongu, Roger.Ndanga ndichinetseka kana muchikwanisa -- hongu, mangwanani, changamire.Ini ndanga ndichinetseka kana iwe uchigona kutsanangura pamusoro peyakakura chimiro cheKing's Quay monetization.Imi varume mune bharanzi rakasimba rakasimba.Ini ndanga ndichinetseka kuti sei ichi chaive chakakosha chinangwa chinangwa chekuita.Uye pamwe mutibatsire kuti mazwi angaite sei?
Ini ndaizotarisa yedu yakasimba hurongwa hwemamiriro atakaita kwaingova kugona nezve, munoziva, tarisiro yaive pakuyerera kwemari capex parity.Chinhu chimwe chete chekuziva nezvemhando idzi dzepakati-rukova mamiriro ese eMalaysia akaitwa nenzira iyi.Zvose zveThunder Hawk nzvimbo muGulf zvakaitwa nenzira iyi.Ese bhizinesi redu rinoitwa nehombe yepakati-kurukova iri yemumwe munhu.Takashanda nenzira iyi kwenguva yakareba uye uku kungoenderera mberi kwechirongwa ichocho.
Hatikwanise kuburitsa mareti atiri kubhadhara pane ino nzvimbo, ini ndingaona seyakanaka kwazvo yepakati-yekuyerera mwero, kana uchida, kuenzanisa iyo bharari yedu sezvawakaunza inoita kuti chiyero chidzikire, nekuti isu takasiyana. njodzi dzechikwereti uye vamwe vanhu vangangove vachitora chikamu mubhizinesi iri, yakava nyaya yemvura yedu yeSt. Malo ichipinda mukugoverwa kwedu kwemari, inova chirongwa chenguva refu, chiri kuita zvakanaka.Uye taizoitei mumakore matatu anotevera nemari inosvika mazana matatu emamiriyoni emadhora uye kuchengetedza CAGAR nekukura kwataive nako uye takatsvaga nemari zvakadaro - rubatsiro rwemari pane chimwe chikamu cheprojekiti.
Project ichiri mari yakakosha kwatiri uye kuti takafunga kutora hutori hwedu mune izvo uye nezvemari fomu iyo kunze, kana muchida, uye ndinofara zvikuru nekodzero yatinayo yatiinayo, handikwanise kuburitsa izvo se yaizotaura zvandichabhadhara yepakati-kurukova mune ramangwana kana mumwe wako anoda izvozvo zvakare.Asi yedu yakazara opex yekambani yedu kana izvi zvauya pamutsetse, isu ticharamba tiri vapfumbamwe kana vadiki-vapfumbamwe uye ndinonzwa kubva pakuona kwese, izvi hazvizoonekwa mune zvemari.Uye ndingati zvakare kuyerera kwemari murukova rwechirongwa chedu chenguva refu pamwe kwakakwirisa kupfuura mwero watinawo.Saka ndakasununguka pane zvese izvo, Arun.
Zvakanaka.Uye kutevera kwangu, Roger, kuri pamuenzaniso, ndanga ndichinetseka, kana iwe uchigona kutibatsira kufunga nezvekuti basa repamusoro rekushanda muGulf yeMexico uye pamwe iyo Eagle Ford ichakanganisa kutungamira kwako kweLOE kwa2020?Ini ndanga ndichinetseka kana iwe unogona zvakare kutaura pfungwa dzako pamutengo wemafuta breakeven mu '20 kuvhara iyo capex pamwe nedividend?
Zvakanaka.Kubva pane maonero epex, ini ndinofungidzira kuti opex yedu ingangove yakafanana gore rino sezvataive nekushanda.Opex yedu muchikamu chechina ingangoita madhora matatu yakakanganiswa nebasa rimwe chete ratakaita nenzira yekushandisa patsime redu reChinook, hongu matsime akauya online pamadhiramu zviuru gumi nezvitatu pazuva, anenge mafuta ese.Uye ini ndaizotarisira ma workover atinawo pano, isu tine yakaderera yekushanda kufarira mune imwe yevashandi, uye ini handione kuti kuve mutyairi mukuru mukusiyanisa yedu yakazara opx yegore, asi iwe unogona kuve nekuwedzera kwekota sematsime aya. zvinowanzoitwa mukati memwedzi mumwe kana maviri ebasa 45 mazuva akajairika.Saka izvo zvinogona kunge zviri kutenderera mukota, asi zvakazara opex yedu yegore sekambani yakazara uye bhizinesi redu reGulf yeMexico rinofanira kuchengetedzwa.
Kubva pakuona, iwe unotora iyo yepakati yekutungamira mune yedu capex, inova ndiyo chinangwa chedu.Uye zvakare gore rapfuura, takarova icho chinangwa uye tiri pasi pechinangwa ichocho kubva mukushandiswa kwemari pane chirevo chekuyerera kwemari, uye ini ndichangoita - tiri pachinangwa ichocho pane accrual basis, izvo zvisiri zvese. mari panguva ino, hongu, hachisi chinangwa chedu chekushandisa kumusoro kuti isu tine huwandu hwezviitiko zvinogona kuitika, uye ikozvino mutengo wemafuta uyu haugone kuenda pamusoro pepakati.Kana tikatarisa tambo nhasi nehutachiona huchangobva kuitika pamitengo yemafuta, tingangoda madhora makumi mashanu neshanu hapana dambudziko, asi kana ukatarisa parizvino tambo, isu taizofanira kuenda kumucheto kwakadzika kwegwaro redu re capex. $ 1.4 bhiriyoni kusvika ku $ 1.45 midpoint uye pinda pakati payo kuitira kuti uwane kuvhara chikamu.
Uye kana taita izvozvo isu tine mimwe mikana iripo iyo isingafanire kukanganisa kugadzirwa kune imwe nguva muzvikamu zvakasiyana zvekambani zvakasarudza kuburitsa pane imwe nguva inotevera.Asi chinangwa chedu ndechekuchifukidzira;chinangwa chedu ndechekucheka kana tichida, uye rangarira izvi, hongu, ruzhowa rwedu sezvambotaurwa naDavid rwuri kutibatsira ipapo mune izvo uye zvinosanganisirwa pane zvandakataura.Saka $55 WTI avhareji yegore, yandichiri kufunga kuti inogona kuitika.Harisi dambudziko zvachose.Uye munyika makumi mashanu nenhatu, uri kungotaura nezve madhora makumi maviri emamiriyoni, madhora makumi matatu emamiriyoni ecapex kubata izvo, Arun.
Hei, mangwanani.Ini ndaida kutevera zvishoma paEagle Ford pano, ndaona kuti imi vakomana mune imwe workover downtime mukota yechina, ndichingotarisa yako yekutanga kota Eagle Ford yekugadzira kutungamira, inoratidzika kunge iri pasi ingangoita gumi nemashanu% maringe ne4Q.Ndinoziva kuti wakataura zvakawanda nezvenguva yakanaka.Ndichingoda kuwana pfungwa yekuti kunewo here kana kuti kwete kune arikuenderera mberi ekushanda muchikamu chekutanga che'20, mhando, inokanganisa kugadzirwa ikoko uye pamwe unogona kungotaura zvishoma kune iyi kugadzirwa, mhando, cadence mukati mese. gore.Ndinoziva kuti wakataura makumi matanhatu muchikamu chechina, tinofanira kuona rampu yakatsiga mu2Q uye 3Q, saka pamwe ndibatsireiwo zvishoma pane imwe nzira yeEagle Ford pano?
Ndatenda.Leo.Saka muchikamu chechina, takava nemhedzisiro kubva kubasa rakawanda pamatsime akakwira kupfuura zvakajairika kana isu tine mhando yemaitiro ekugadzirisa ekugadzirisa ekugadzira ekugadzira mhiri kweEagle Ford, takaona danho rakafanana rekuita, asi tinozove nenguva yakawandisa. ane chokuita nematsime ane mwero wepamusoro akawanda ematsime 300 kusvika ku400 pazuva, panzvimbo pematsime 40, 50, 60 pazuva.Saka icho chaive chinhu chisina kujairika.Isu takava nemamwe matsime matsva akauya online munaGunyana muCatarina aive nenguva yekudzikira yatakabuda tikanoita basa rekuchenesa jecha pane izvo, matsime aya ave ese asi angangoita rimwe chete radzokera kumitengo yakajairika yekugadzira.Saka kubva muchiitiko ichi chekushanda muCatarina, isu tiri kuona madhiramu mazana mashanu kana mazana matanhatu pazuva rekukanganisa kubva patiri kuenda muna Ndira.Imwe yese yemunda ndeye mumutsara seyakajairika.
Mumatsime eEast Tilden, ayo Roger akasimbisa fungidziro yedu, asi yakapfuura zvaitarisirwa kubva kumatsime kubva 2015 uye yapfuura.Matsime aya akakanganisa chikamu chedu nemadhiramu anopfuura 700 pazuva.Iko kukanganisa kweiyo mukutanga kwe2020 ingangoita chiuru madhiramu pazuva, uye izvo zvinokanganisa zvichadzikira mukati megore.Saka isu tiri kuona kuwedzeredza zvishoma pakutanga kwegore.Isu taitarisira kuve nekudzikira kwechisikigo muEagle Ford nekuputirwa kwetsime redu, kunyanya munaGunyana uye muna Gumiguru wegore rapfuura, kuburitsa kwedu kutsva kwegomba repamhepo gore rino, kuita kwedu chirongwa chekuchera uye kupedza chirongwa kwave kufamba zvakanaka.Tine chirongwa chematsime arikuuya online ayo mukota yekutanga anofanana nezvaaiita mukota yekutanga ye2019. Uyezve zvishoma zvakamirira muchikamu chechipiri chechikamu chechipiri matsime edu eKarnes anouya online.Saka pave paya pave paya matsime matsva mukota yechipiri wakaona muna 2019. Asi zvino kusundidzira kwakasimba kwegore rose nemamwe matsime epamusoro eIP muCatarina neKarnes achibatsira muchikamu chechipiri nekota yetatu uye Kusundira kukuru kwematsime eKarnes asina kushanda muchikamu chechina cha2020.
Zvakanaka.Rubatsiro rwakanyanya ruvara.Saka zvinonzwika senge yakaremerwa nehafu pakukura kweEagle Ford mu'20 pano.
Zvichagara zvakadaro, Leo.Paunomira kushandisa mukupera kwegore kumberi-kumagumo mutoro capital, inova chinhu chakajairika muShale.Isu hatisi Murphy chete.Zvakaoma kuzviita nenzira iyoyo.
Chirongwa chedu muna 2020 chine matsime gumi nemana ari kuuya online pakupera kwegore muKarnes.Saka isu tine tsime rakatsiga dhirivhari muna 2020, zvichienzaniswa ne2019. Saka isu tinofanirwa kubuda gore nepamusoro pane pane yakaderera maitiro nekuderera kwechisikigo.Saka zvishoma zvakasiyana kutarisa gore rino rechirongwa chedu.
Okay, that's good color for sure .. Uye ndinofungidzira, ndaingoda kutevera-up zvishoma pamusoro pemhando yemakore anotevera anotevera maererano nemafungiro amuri kufunga pamusoro pemaonero.Ndinoziva iwe wakataura kuti 2020 ndiyo yakakwira capex, ndinoreva, zvinoita sekunge rudzi irwo rwunouya pasi pano, munoziva, kupinda '21.Ndinoziva kuti imi vakomana makataura nezve 85,000 BOE pazuva muGulf yeMexico.Asi ini sezvandakaita sekutarisa masiraidhi ako uye nekuona mamwe e-tie-in masheti.Ndaingoda kuwana pfungwa, zvaiita sekunge pakanga pasina matsime akawanda muGulf aiuya kusvika pakupera kwegore muna '21.Saka isu tinofanira kutarisira here kuti Gulf kugadzirwa kudzika zvishoma mu'21 uyezve kukwira zvakanyanya mu'22 ko Khaleesi naMormont vanouya pane chero chinhu chaungataura kune icho?
Gore rino, ingave yakakwira watermark yekugadzirwa mumakore mashoma anotevera muGulf, asi kwete zvakanyanya kuderera zvakanyanya, ematsime aya matsime emhando yepamusoro kana ukaaona pane ino chati zvakare asina kuratidzwa pano.Iwo asiri-op matsime, saka ingori Kodiak umo isu tinonakidzwa nekufarira kukuru kwekushanda ikoko, imwe yeminda yedu inobatsira ine zvipo zvinoshamisa.Ndinovimba zvakanyanya mukuyera izvi, ndingati capital kuendesa izvi pamwe iri pazasi pekutungamira.Uye tine matsime akakosha ari kuuya pano muchirongwa ichi uyewo mune asiri-op ari maviri kuSt. Malo neKodiak uye se -- naLucius zvakare.Saka iyo isiri-op haina kujekeswa pano, asi ine chivimbo chakanyanya nezve yedu yenguva refu yekugadzira chimiro cheichi 85 chinangwa uye shoma capex kusvika kumagumo kwenguva yekuronga.
Ndazvinzwa, zvakanaka.Saka, hongu, zvinoita sekunge kune akati wandei mamwe matsime ari mumasiraidhi ari kuzobatsira kudzosera kuzadza mamwe acho.Okay zvine musoro.
Uye matsime aya akanyanya kugadzirwa, Leo, ane akasiyana ekushanda mubereko, asi aya matsime epamusoro-soro atinobata nawo pano.
Zvakanaka.Aiwa, zvinobatsira.Uye ndinofungidzira pamwe chete pekupedzisira pakuongorora.Pane yako Slide 22, ndaingoda kuona kana tikawana ruvara rwakati wandei pane mamwe eaya tarisiro anouya gare gare mugore maererano nezvawaifunga kuti zvingangoita kuBatopilas kana tsime rauchazove ini. kufungidzira kuyedza kutanga '21 muBrazil, uchingoyedza kunzwisisa kuti ndedzipi mhando dzezvinangwa zvinodzoserwa zviri mumatsime iwayo?
Zvakanaka, ndinoreva isu -- kuburitsa nyaya idzi kunoda akawanda, akawanda mabvumirano evamwe uye nokudaro isu hatina pano.Ndinoreva, kazhinji muGulf yeMexico, ungatarisira mukuongorora zvakanaka kuve 75 miriyoni dhiramu pamwe nemukana wemhando, izvo ndizvo zvatinogara tichinangana ipapo.Munzvimbo yedu yeCholula kuMexico, takawana kuwanikwa gore rapfuura kwakaziviswa, uye yaive nzvimbo yakanaka nemafuta akanaka ayo ari-aive nenzvimbo dzakati sandara kana uchida, uye isu tinofanirwa kubva pachimiro ichi kuenda kune imwe nzvimbo. gobvu redziva mune rimwe rematsime, akange asina mwero wemvura munzvimbo, uye kuti takaita basa rakawanda rekudengenyeka ikoko uye zvakare mukana uri padyo nemhinduro yakanaka yekudengenyeka kune ese chimiro cheCholula tsime. .Uye munzvimbo yerudzi irworwo kubva kutsime iroro uye nemukana uri padyo wakafanana nawo, kudzika zera rimwe chete padyo nesuwo, kana muchida, aya ndiwo miriyoni zana yemadhiramu emhando yezvinhu zvatiri kunyomba munzvimbo yakakura kwazvo.
Saka isu tine mabhizinesi maviri muMexico izvozvi, imwe inzvimbo yepakati yeMiocene diki tieback munzvimbo yemamiriyoni zana emadhiramu Kumaodzanyemba kwakadziva kumabvazuva kweTalos kuwanikwa kwatinogona kuwedzera nekuwedzera kune zvakada kufanana nezvatinoita muGulf.Uye kune Batopilas tsime itsime hombe riri pamusoro $160 miriyoni akaenzana saizi uye yakakura kwazvo Miocene chimiro pasi pemunyu.Uye saka iyo mikana, uye hongu, yedu Sergipe-Alagoas bheseni, isu hatisi kuburitsa hukuru hweiyo mikana, iyo iwe yaunogona kutarisira chimwe chinhu chakadaro nemudiwa watinofanira kunge takakura.Uye ndinotarisira kuti avo vave vakakura uye ikoko unoenda nepamusoro 500 uye ndizvo chete zvatingataura nezvazvo.Zvekare tsime rakajairika muGulf 75, tiri kubata zvakanaka zvishoma, pedyo nezana uye kupfuura muGulf - mudunhu reMexico nemhando idzi dzekudhura kwazvo [Indecipherable] yematsime, matsime, chokwadi.Uyezve mukana mukuru weramangwana kwatiri muBrazil watiri kufara nawo.Asi iva nekuzivisa kushoma panguva ino.
Mibvunzo miviri, ndinofunga kuti musika haunyatso koshesa rubatsiro rweSt. Malo chaizvo post iyo '24 timeframe.Iwe unogona kungoita, senge, kutaura nezvekuti chigadzirwa chinotaridzika sei kana changouya online mu'23 uyezve kuti chiyero chekuenda mberi uye kwenguva yakareba sei - hupenyu hurefu hweaya mavhoriyamu muhurongwa?
Mangwanani, Gail.St. Malo inouya mukupera kwe'23 kutanga '24 mhando dzenhongonya, inowedzera anopfuura 5,000 madhiramu pazuva kune yedu yekunze portfolio uye inowedzera madhiramu anosvika mamirioni makumi matatu nemaviri emugove wedu uye yakakosha NPV, NPV mu $150 miriyoni kusvika $160 miriyoni. neinenge 18% kusvika 20% chiyero chekudzoka pamadhora makumi mashanu neshanu mafuta.Saka zvakakosha uye zvinouya panguva yakanaka kune yedu offshore portfolio.
Hukuru.Uye ipapo muna 2019 Gulf yeMexico yaive nemisiyano ine hutano.Imi varume mungangopa rumwe ruvara here kuti imi varume muri kuona sei GOM misiyano muna 2020?
Ehe, ini ndinofunga kuti mutsauko muGulf wanga uri nani pane zvakafanotaurwa kubva paIMO 2020 maonero anga asina kunyanya kukanganisa.Misiyano yakadzikira pane zvayaive muzvikamu zve'19.Nhasi, mubhizinesi redu reMars uko tinomaka kubva kuMars muGulf yeMexico, izvi zvingave zvese zvemidziyo zvatakatenga kubva kuPetrobras, pamwe neMedusa yedu yekare uye anomhanya-mberi anonzwa.Ingangoita 36% yekugadzirwa kwedu, izvi zvakasiyana zviri pachena kupfuura $1 gore-kusvika-zvino, iyo Kukadzi diff uye iyo $1.40 yakanaka, mamwe maCHOPS akafungidzira kuve ari pasi pemadhora asina kunaka.Uye kuti tinoona izvi zviri nani pane zvakambofungwa.
MuHLS muGulf, inenge 21%, aya mamwe akanyanya, akanyanya kukwirira magidhi akatenderedza Kodiak yedu isiri-op zvakanaka uye ese ebhizinesi redu reLLOG takatenga uye nemunda weDalmatian watinawo uye tiri kushanda munguva pfupi iri kutevera chikamu chechina, ikoko. yaive $4 yakanaka uye ikozvino tave pachena mumazana mazana matatu nemakumi mashanu, uye ndinonzwa zvakanaka nezvazvo.Imwe mamiriro akanaka kwatiri ndeyeMagellan East Houston, MEH inomiririra 33% yezvinwiwa zvedu zvekare zvinobuda, bhizinesi raEric muEagle Ford.Uye vaviri ava vanga vari $3.40 kana $3.40 yakanaka kune WTI hwaro umo tinomaka vashandi.Saka zvakazara, isu tichiri kuzomiswa uye ndinotenda kana iwe ukatarisa zvekufambisa uye nemutengo wakaonekwa wekambani yedu, uye kune madhiramu edu.Isu tichagara tine tarisiro kune chero vezera, nekuti yakasarudzika hunhu hwekwatiri kutengesa madhiramu aya uye tichifara kwazvo nezvezvibvumirano zvatinazvo, isu tinofunga mukana wekukwikwidza Uye saka nei takawedzera bhizinesi redu reGulf uye tichigovera mari yakawanda. kune bhizinesi redu reEagle Ford.Kana iwe uine mitengo yakakwira, unogara uine mukana.
Ndatenda.[Operator Mirairo] Uye mubvunzo unotevera unobva kuna Paul Cheng wekuScotia Bank.Enderera mberi.
Kana iwe uchifanira kugadzirisa iyo capex tinofanira kufunga kuti iri muEagle Ford chete kana kuti iwe unozogadzirisawo mune dzimwe nzvimbo?
Kwete, zvakare ndinoda kusaburitsa izvi panguva ino.Tine imwe nzvimbo yekusimudzira hurongwa hwekubvumidza kubhadhara muVietnam iyo iri chikamu chechirongwa chedu, icho kana iwe ukaita icho chiitiko chinogona kunonoka, uye isu tiri kuona mimwe mitengo yakasiyana uye kumwe kuongorora pakupera kwegore.Tiri kuyedza kuita kudzikisira uko kwatisingagadzirise yedu yakakwira mari yekugovera mari kune vanoshanda uye tie-backs muGulf, kana kushandura hurongwa hwedu hweEagle Ford panguva ino.Ndinonzwa ndakasununguka tinogona kuzviita uye tichazviita, kana tichida kuzviita tichazviita.
Zvakanaka.Uye muBrazil imi vakomana matoziva here kuti tsime ramuchachera gore rinouya -- kutanga kwegore rinouya?
Tine zano rakanaka -- tine pfungwa yakanaka pamusoro pazvo, asi tiri kubata nemudiwa mukuru ipapo.Uye ndinofunga kuti unogona kudzoka wotarisa kuburitswa kwavo pane imwe purojekiti yakakura kwazvo ipapo nekufamba kwenguva, uye ungatarisira kuburitswa kwakafanana pano zvakare.
Zvakanaka.Saka hauna kukwanisa kutipa -- pamwe peak drill tarisiro kana chero chinhu chine chekuita panguva ino?
Zvakanaka.Uye paunoti kutanga kwegore rinouya.Tiri kutaura nezve kutanga kwekota yekutanga?Chii...
Ehe.Iyo rig chirongwa chiripo chine chekuita nemvumo uye hurongwa hwevatinoshanda navo, zvichisanganisira mamwe mabhuroki avanawo.Uye ndinofungidzira kuti ichave kutanga muna '21 panguva ino.Hongu changamire.
Zvakanaka.Zvino pamwe ndazvipotsa.Hameno pauri kuti hausi kuzova netsime riri kuuya muEagle Ford kwemazuva zana anotevera?
Kwete, kwete, kwete, kubva panguva yatinoisa tsime pakutanga kwaGumiguru uye tichava nematsime anoyerera Mugovera.Saka yave nguva refu.
Iko kugovaniswa kwemari yedu yekumberi-yekupedzisira yakarodha Shale chirongwa zvinokanganisa uye isu takawedzera kugadzirwa pamusoro peiyo yedu chaiyo EUR, takapisirwa izvo muchikamu chechina.Iye zvino isu tine iyo nyaya pamusoro penguva yakareba yakarongwa kumberi-kuguma kwakatakura chirongwa.Isu tanga tichiboora nemarig matatu ipapo kutanga mukupera kwegore.Uye tiri kuunza yakakosha 10-tsime pad pano nekukasira uye tinzwe zvakanaka nezve gwara redu uye zvatiri kuita ipapo.
Tiri, Pauro.Tiri kutanga izvi -- tiri kutanga Mugovera mangwanani.Pave nechinguva, zvandiri kuedza kutaura ndezvekuti zvakaoma mumutambo weShale uye uchaona kuti kashoma kusaisa tsime mukati memazuva zana uye asi isu tadzoka tichidzvanya nekuwedzera matsime mukota yese. uye isu tine yakakosha cadence yekuvaka matsime, sezvakatsanangurwa Erik pakutanga mukufona.
Zvakanaka, uye yekupedzisira kubva kwandiri, unogona here kutipa -- chii chinonzi East Tilden, kuita zvakanaka muchikamu chechina chauri kutaura nezvacho?Uye chii chaive fungidziro yekambani yamunoshandisa imi varume?Uye watogadzirisa fungidziro iyi here kana kuti unofunga kuti East Tilden zvakanaka mukota yechina yanga isinganzwisisike uye fungidziro yako yecapex ichiripo, OK.
Chokwadi, Pauro.Saka matsime eEast Tilden, takaunza matsime aya online IP30s aienderana nefungidziro yedu.Haisi iyo nhamba chaiyo, asi pane imwe nzvimbo yakatenderedza 800 BOE pazuva avhareji yematsime masere.Saka ivo vanotaridzika zvakanaka chaizvo kwemazuva makumi matatu mushure meizvozvo takatanga kuona kuderera kuri kuita.Saka iyo - sezvandataura, kuenda muna Ndira mukaha pakati pefungidziro yedu yekutanga uye kugadzirwa kwazvino kwematsime masere angangoita chiuru cheBOE pazuva, uye isu tinotarisira kuti gaka richave riripo, asi richadzikira kuburikidza. gore sezvo tarisiro isati yasvika inoderera sezvinoita matsime nguva dzose.
Ndatenda nekutora mubvunzo.Imwe yepoindi yawakaita mune yako, yerudzi, yenhanganyaya ndeye iwe wakagadziridza base base kuti ive Western Hemisphere mutambo wakachena.Asi iwe uchiri nekuongorora kweVietnam uye inonzwa senge idiki yekufungidzira pane ino nguva.Saka ndiri kuda kuziva kuti zvine musoro ndezvipi zvekuchengeta izvo zvinhu?
Pane kukwidziridzwa kwakakosha mumidziyo iyoyo.Tine zvakakosha zvakawanikwa ipapo izvo zvatichange tichiunza online, isu tiri kuita chikafu, uye tichave tichive nemvumo yehurongwa hwekusimudzira munda ipapo kuburikidza nehurumende - hurumende yaivepo ichinonoka.Uye isu -- necapital allocation yedu tanga tisiri kuvamhanyisa kana muchida.Mamiriro ezvinhu akasiyana chaizvo.Isu takangowedzera chimwe chivharo chine tsime rimwe chete rekuzvipira, isu tine akateedzana tarisiro iyo yakaderera njodzi yakadhirowewa nejack-ups uye inotibvumidza ese marudzi ekukwira, asi panguva ino chaiyo nekugovewa kukuru kwekuva neCAGAR shoma uye yemahara. kuyerera kwemari uye kuvaka bhizinesi rine yakakosha kuyerera kwemari yemahara.Yakadzikiswa mumakore mashoma ekutanga ebhizinesi redu, asi isu tichave tichichera ipapo gore rinouya, uye iyi ikurarisa kwatiri iyo yakakosha uye inotitendera isu ese marudzi ekushanduka anosanganisira zvikamu zvakasiyana zvebhizinesi redu kuenda kumberi.
Saka seVietnam, iva nechinzvimbo chakasarudzika, nzvimbo isingadhure yekupinda, kuwanikwa kwakanaka kwazvo ikoko, kuchave -- kuiswa muurongwa hwedu hurefu huri mukati mezvatakaburitsa pano uye nekunakidzwa nazvo.Kungosave capital hombe ipapo gore rino nekuda kwezvikonzero zvese izvo zvatinoverenga nezve mazuva ese.
Zvakanaka, mumwe mubvunzo wekuongorora, kana ndikarangarira, ndinofunga angave makore mashanu kana matanhatu apfuura iwe wakaita nhamburiko dzekuchera muSuriname, imwe yekutanga, ndinofunga, yepasirese E&Ps kuita izvozvo.Uye ipapo iyo mhando yekukanuka nzira izvozvi, hongu, isu tiri kuona Suriname misoro yemazuva ese.Ndiri kuda kuziva, kana iwe uine chero chido chekuongororazve mikana mune iyo iri kubuda geography?
Tinofarira mikana yese muHemisphere yatinotarisa mairi, inova South America, Gulf yeMexico chaiyo neMexico offshore uko tine chivharo chakakosha uye munguva pfupi yapfuura tawedzera kuBrazil chimwe chikamu muPortiguar Basin.Iwo matsime ataichera makore mazhinji apfuura, takasiyana zvachose kutamba, nguva yakasiyana zvachose.Isu -- sekuziva kwamunoita, tanga tichiongorora pasi rose, asi tiri kuyedza kuisa pfungwa pakuva neruzivo rwakawanda uye kunyanya kutarisisa pane data uye nemabheseni atinoshanda maari.Nekuti isu hatina kutora chikamu, hazvireve kuti hatina kutarisa ipapo uye mutengo wepoker waivapo pamusoro pezvataida kuita.Uye zvakare pane imwe nguva munyika yakadai zvinonzwika zviri nyore, asi kana iwe ukaona zvibvumirano zvakasiyana zvawakabvumirana nazvo, kutarisa zuva remumwe munhu kunenge kuri kukutadzisa iwe mune yekusimudzira bhizinesi maonero kuenda kumberi.Uye mune dzimwe dzenzvimbo idzo hatisi kukwanisa kuita chibvumirano chatingade kushanda machiri. Saka tinotarisa mudunhu rino, hatipikisane nekushanda ikoko, asi hatisati tawana mukana watinoda kutora chikamu. uye kwatinogona kuwedzera kukosha kwakakosha.
Zvakanaka.Isu hatisisina mibvunzo nhasi uye izvo zvinopedza kufona kwedu nhasi.Tinotenda munhu wese nekuteerera, uye tichakuonai pamibairo yedu inotevera yekota.Ndokutenda zvikuru.
10 masheya atinoda zvirinani kupfuura Murphy OilKana kuisa mari nyanzvi David naTom Gardner vane stock tip, inogona kubhadhara kuteerera.Mushure mezvose, tsamba yenhau yavakamhanya kweanopfuura makore gumi, Motley Fool Stock Advisor, yakawedzera musika katatu.
David naTom vachangobva kuzivisa zvavanotenda kuti gumi akanakisa masheya evanoisa mari kutenga izvozvi ... uye Murphy Oil anga asiri mumwe wavo!Ndizvozvo -- vanofunga kuti masheya gumi aya anototenga zviri nani.
Ichi chinyorwa chinyorwa chemusangano uyu wekufona wakagadzirirwa The Motley Fool.Nepo isu tichivavarira Wedu Wehupenzi Zvakanakisa, panogona kunge paine kukanganisa, kusiiwa, kana kusarurama mune ichi chinyorwa.Sezvinei zvese zvinyorwa zvedu, Iyo Motley Fool haitore chero mutoro wekushandisa kwako zvirimo, uye tinokukurudzira zvakasimba kuti uite tsvakiridzo yako wega, kusanganisira kuteerera kufona iwe pachako uye kuverenga maficha ekambani SEC.Ndokumbira utarise Mitemo neMamiriro edu ekuwedzera mamwe mashoko, kusanganisira yedu Inosungirwa Capitalized Disclaimers of Liability.
Motley Fool Transcribers haina chinzvimbo mune chero yemasheya akataurwa.Iyo Motley Fool haina chinzvimbo mune chero yemasheya yakataurwa.Iyo Motley Fool ine mutemo wekuburitsa pachena.
Maonero nemafungiro ataurwa pano ndiwo maonero nemafungiro emunyori uye hazvireve hazvo zveNasdaq, Inc.
Yakavambwa muna 1993 muAlexandria, VA., Nehama David naTom Gardner, Iyo Motley Fool ikambani ine multimedia yemari-sevhisi kambani yakatsaurirwa kuvaka nharaunda huru yekudyara pasirese.Kusvika mamirioni avanhu mwedzi wega wega kuburikidza newebhusaiti, mabhuku, koramu yepepanhau, nhepfenyuro yeredhiyo, kutaridzika kweterevhizheni, uye masevhisi ekunyorera tsamba yetsamba, The Motley Fool inokunda hunhu hwevanogovana uye vanotsigira vasinganeti kumuridzi wega.Zita rekambani rakatorwa kubva kuna Shakespeare, ane mapenzi akachenjera akarairidza nekuseka, uye aigona kutaura chokwadi kuna mambo - pasina kubviswa misoro.
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Nguva yekutumira: Kukadzi-24-2020