Dominic Macklon: Hey Bob, it’s Dominic here. Yes. So, let me talk a bit about that. I mean we are obviously very pleased with our organic reserve replacement ratio this year, 177%. The real drivers for that, I mean obviously, the LNG, we did have some bookings there from NFE as we commenced payments on NFE. We also saw some bookings to make LNG performance and for some project advancements in Norway. So, our international portfolio is contributing. But the main area this year was actually in the Lower 48 development program. And that’s particularly in the Permian and that included an increase to our PUD bookings by extending the approved era we established by reliable technology, which is an SEC term. So, it’s consistent with SEC requirements.
And so basically, we have a very extensive geoscience and reservoir engineering data set across the Permian now that allows us to support that. So €“ and you will be aware, Bob, just the rigor and the process and the controls governing the reserves booking process. So, this further demonstrates the depth and quality of our Lower 48 inventory. So, that’s really the story this year. Going forward, we will continue to see bookings in the Lower 48. We will see bookings in Alaska, obviously with pending FIDs. And then we will continue to see some LNG bookings as well, particularly on the resource projects as we call them, NFE and NFS. You are absolutely right what you are saying about Port Arthur. But €“ so, I think you will see a mix going forward, right, as it stands now, our Lower 48 represents about 46% of our reserves and the remainder across the international.
So, yes, we have simply appreciating the performance of our sort of diversified portfolio around our reserves booking. So, thanks for the question.
Bob Brackett: Very clear. A quick follow-up on the portfolio. Great opportunities in 2020 to rebuild the portfolio, €˜21 again in the Permian, €˜22 was very much an LNG themed year. Is the star of the show for €˜23 Willow FID, or how do you think about the portfolio where it stands today?
Ryan Lance: We are pretty pleased where the portfolio is at. I mean Dominic did a good job of kind of going across the globe. I think we spent a lot of time over the last 5 years really coring up the portfolio, really focused on getting it as low cost of supply as we can, getting the margins as expanded as we can leading to kind of the returns and the productivity that we are seeing today. So, we are just hyper-focused on making sure the efficiencies are there and the returns are there. And pretty happy with where we stand today. And then as you rightly note, Bob, we are leaning in a bit on some of these mid and longer-cycle projects because we are just very constructive. The world is going to need this all. It’s going to need low greenhouse gas and emissions intensity oil, it’s going to need low-cost supply oil.
That’s what we are all about. That’s what we are doing in our portfolio. And most recently, leaning in on the LNG side because we think the world is going to need this gas as part of the transition that we are going through.
Bob Brackett: Thanks. Very clear.
Phil Gresh: Thanks Bob. Next question.
Operator: Our next question comes from Neal Dingmann with Truist. Your line is now open.
