Capital Efficiency And 2026 BudgetThe 2026 budget outlines lower expected spending alongside higher production, indicating improved capital efficiency and potential for stronger free cash flow generation.
Exploration Upside And Clearwater ExposureExposure to the highly economic Clearwater formation, combined with testing of new play concepts outside the Clearwater, creates multiple exploration pathways that could add reserves and support long-term production growth.
Secondary Recovery And Production StabilitySecondary recovery now supports more than half of oil production, significantly slowing natural decline rates and lowering maintenance capital needs, which should help stabilize volumes and reduce operating cost pressure.