Question-and-Answer Session
Operator
(Operator Instructions). And our first question will be from the line of Dough Leggate with Howard Weil Please proceed sir.
Dough Leggate - Howard, Weil, Labouisse, Friedrichs, Inc.
Thanks. Good morning guys. Thanks for taking my question.
John Hess
Good morning.
Dough Leggate - Howard, Weil, Labouisse, Friedrichs, Inc.
A couple of things. One operational and one I guess big picture on the debt structure of the company. Operationally, can you just talk a little bit about where you are and potentially negotiating sales contracts for your Australian Gas? Is it too early in the process or is the joint venture with Woodside really positioning you to potentially participate in the L&G project down the line?
My follow up on is really on the capital structure. On the first quarter call, I think everyone noticed the reference to the potential for or preparedness rather to come to the equity markets, both to protect the credit rating and perhaps fund through development sanction projects maybe later this year. I notice an absence to any reference to that this quarter, I just wonder if you can clarify where you stand on that, again it's kind of a big picture question? Thanks.
John Hess
Okay, thanks. On the first question its early days to be talking about any commercial terms really. We do have discussions ongoing with both Woodside and Shell. So its way early to be talking about commercial terms or which price we're going to take the gas?
John Rielly
And on the capital structure Doug, now really, I was making a reference to that, at the end of my remarks but for clarification, I'm happy to give further clarification. Once we further divide our future development projects and growth projects, the Bakken being the one, hopefully, the Pony project is well.
We'll have a better feel on our funding needs and the thing that we want our shareholders and potential investors to know, that we will maintain a strong balance sheet, have adequate funding to pursue those projects.
So as those projects get further definition, we have many options on the tables. Some may be asset sales in the normal course of business, some maybe diluting down some of the projects we have. If that makes sense and they're define enough and another maybe accessing the equity markets. So we just want our shareholders to know that all options are on the table because as you've mentioned yourself, maintaining a strong balance sheet in these uncertain times, with the capital projects that we have ahead of us, it's a prudent thing to do.
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