We're not really seeing something that we would point to as a demand issue.

We continue to identify world-class projects, post industry-leading returns, and are well-placed for continued growth.

Our results reflect the same business model and disciplined investment process that we've had for years and will continue to have.

The buyback is a flexible component of our distribution to shareholders. I wouldn't read anything into it. It will depend on our cash generation as we go forward.

Many in the investing community weren't expecting these earnings.

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