Arun Jayaram
JPMorgan Chase & Co, Research Division

Okay. We're going to keep moving. We're heading into the back 9 on day 1 of our Energy Conference. Again, this is Arun Jayaram from JPMorgan's E&P OFS and Integrated Oils Research team. Delighted to have our next presenter, Murphy Oil. Murphy is a diversified -- truly diversified E&P who has operations onshore, offshore, U.S. internationally plays that span the Eagle Ford, Gulf of America, Canada, Vietnam and a growing international exploration portfolio.

Very happy that Murphy decided to put out some breaking news yesterday on some favorable results with the drill bit offshore West Africa. We'll probably spend some time on talking a little bit about that just because it is really important to the story. Eric, how are you?

Eric Hambly
President, CEO & Director

I'm doing really well. Thank you. It's always nice to be able to come to a like this and talk about oil discoveries.

Arun Jayaram
JPMorgan Chase & Co, Research Division

Well joining us today is Eric Hambly, who's the President and CEO of Murphy. Eric, before talking about some of the recent developments, I was wondering if you could talk a little bit about the macro picture and how you're thinking about what's happening in the Middle East in terms of Murphy and your capital allocation decisions.

Eric Hambly
President, CEO & Director

Arun, we've been fortunate enough to pretty much stay the course with our capital program here. We're not affected by any type of disruption from the Middle East. We don't have a Middle East