Production

FY 2025 full‐year production is expected to average approximately 1.42 million BOE/day (mid‐single digit growth over FY 2024), though Q1 2025 volumes are lower versus Q4 2024.

Q4 2024 saw record U.S. production driven by high operability and strong well performance. In contrast, Q1 2025 experienced reduced activity due to severe winter weather, maintenance turnarounds at Horn Mountain, Al Hosn, and Dolphin, and a lower working interest in new Permian wells, which together dampened early‐year volumes. " "

Earnings (EPS)

Q4 2024 had an adjusted EPS of $0.80 per diluted share while also recording a loss of $0.32 per diluted share; Q1 2025 earnings are expected to face similar downward pressure.

The strong performance in Q4 was partially offset by a loss linked to increased long-term environmental remediation liabilities following a Federal Court ruling. Continuing operational challenges and lower Q1 production remain likely to pressure EPS compared to the previous quarter’s mixed results. " "

Cash Flow & Debt

Q4 2024 free cash flow reached approximately $1.4 billion with a marked debt reduction of $500 million; Q1 2025 may see shifts due to increased operating and capital demands.

Robust Q4 cash generation enabled significant liquidity improvements and debt repayment. However, with Q1 2025’s heightened overhead expenses ($670 million for Q1 and $2.6 billion for FY 2025) coupled with increased capital expenditures, free cash flow is likely to face downward pressure relative to the previous period’s strong performance. " "

Capital Expenditures

FY 2025 guidance of $7.4–7.6 billion, representing an increase relative to prior periods.

The front‐weighted capital investment plan for FY 2025 is designed to accelerate production growth and extend asset life, building on prior operational successes despite the earlier periods enjoying relatively lower capital intensity. " "

Commodity Prices

Q1 2025 realized prices were reported at $70.80 per barrel for U.S. oil, $72.59 per barrel for international oil, and $2.42 per Mcf for U.S. natural gas, reflecting ongoing volatility from prior periods.

While previous periods were influenced by fluctuating market conditions, Q1 2025 prices continue to reflect the impact of global supply-demand dynamics, OPEC actions, and geopolitical events, which remain significant factors affecting revenue generation and overall margins compared to earlier periods. " " "