Earnings RevisionsLower production forecasts prompted analysts to reduce earnings expectations, increasing downside risk to consensus valuations.
Free Cash Flow Yield And Capital SpendingOngoing exploration and major project spending have depressed free cash flow yield relative to peers, limiting capacity for shareholder distributions.
Production OutlookWeaker-than-expected volumes from the Montney region and the Gulf of America lowered the production outlook, pressuring near-term output and revenue.