Charles Meade: Good morning, Roger, to you in the whole Murphy team there.
Roger Jenkins: Oh, good morning Charles, good to hear from you.
Charles Meade: Roger, you touched on Vietnam just briefly earlier in your Q&A. And I want to see if I could get you to talk a little bit more about that. Can you characterize these two exploration prospects for us? And my understanding is that that’s going to be your first activity over there. So can you characterize what those prospects are like? I think you said the relatively low risk, but you put some numbers to that? And then also clarify for us that $10,000 to $15,000 BOE a day, net to you guys in — I think it’s already 2026. Does that include any risk exploration success from these two prospects? Or is that just the — is that just lack of any moment?
Roger Jenkins: No, that is 100% just from the project. Nothing to do with exploration in any number, any forecast, anything with Murphy Oil, I appreciate that question. Vietnam it’s been a sleeping giant for us. We had it held back for a while, also held back by them. It’s come to life with this approval of the field development plan, meaning they’re ready to put their money in with us here, PetroVietnam. We’ve had these nice prospects, one of the prospects. These are great fractured sands over carbonate in a very simple geologic setting. One of the wells resembling that which is similar to how the field has laid out and there’s a large stratigraphic trap that has some level of structure to it, also nearby as the room or some very good success by one of our partners.
In Vietnam that recently drilled a very nice well targeting the same zone, as a very large prospect, can change our world there and make this a very 30,000, 40,000, 50,000 barrel a day business for us long-term, and we can have some exploration success. As to the risk component, it’s not low-risk, but its lower risk than big sub-salt $100 million wells in the Gulf of Mexico. And you’re talking about wells type cost with lower risk. And also in Vietnam, which most people are not familiar, this is the basin of Vietnam, the multiple platforms, pipelines, infrastructure, FPSOs, FSOs everywhere here. This would look like a segment of South Louisiana 30 years ago, a lot of production here in shallow water. So this is not like we’re in a ranked wildcat country here.
So that kind of frames what we’re doing in Vietnam, Tom, unless you had follow-on to that, Charles.
Charles Meade: No, that’s it. That’s great detail. Thank you, Roger. And then my second question is kind of about your Murphy 2.0 and really by my modeling, it kind of — it’s obviously an achievement to get to Murphy 2.0. But for me, it looks like a rolling stop in the sense that you guys are going to be in 3.0 territory by the time you report 4Q 2023, if not on an absolute debt basis, certainly on a net debt basis. And you guys you just had a board but you guys must see the same thing. And so I’m curious if you –if you — to what extent that you guys have discussed that with your Board and if there’s — as you roll forward 2024, you guys are going to be it’s possible that you could exit the year with a zero net debt position without giving the effect to any share repurchases. So has that — can you characterize the conversation that you’re having at the Board level? And if there’s any — is it any shifts on what you guys are thinking about for 2024?
