And we’re seeing the flow of orders and also pipeline opportunities come about. And that’s just further reinforced with era. It’s further reinforced with some of the European policies and also what you’re seeing in the Middle East. So many, many opportunities as we go forward and feel comfortable with that 6 billion to 7 billion and also our opportunity to convert on it.
Kurt Hallead: Okay. Appreciate that color. And then maybe follow up for Nancy on capital allocation. How do you gauge the preference between dividend and share repurchase?
Nancy Buese: Yes. So at this point, how I would think about it is we’ve committed to the 60% to 80% of returns back to shareholders. The dividend will structurally go as the business goes and we’ll work to increase the dividend over time. How I would think about the share buyback is it’ll be opportunistic to get somewhere in that 60% to 80% range. So that will be the opportunistic add on to the dividend. Our sincere goal is as we get more structure, stability, linearity in the business, we’ll be able to grow that dividend over time and especially as we pivot away from the cyclical nature of certain parts of the business and more to sexual, secular growth. So that’s the goal, but we still remain very committed to the 60% to 80% return to holders.
Operator: One moment for our next question. Our next question comes from Marc Bianchi with TD Cowen. Your line is open.
Marc Bianchi: Hi. Thank you. I think you had mentioned an expectation for solid upstream spending growth next year. There’s some investor concern that maybe mid-teens or even double digits might be a stretch for international spending. Could you just comment on how you’re seeing the outlook if you think that that mid-teens is achievable or any other puts and takes to be thinking about?
Lorenzo Simonelli: Yes, again, if you look at this year, we’ve said international spending at mid-teens. And as we look into next year, it’s going to be double digit. And as you look at offshore activity continues to be robust. And if you think of Latin America with Brazil, Guiana continuing to see the uptick, also West Africa. And if you look at the Middle East and the spending that’s anticipated on the D&C side, again, with the plans that have been announced by the various national oil companies, we still feel good about the double digit in next year activity.
Marc Bianchi: Okay, that’s great. Thanks, Lorenzo. The other question I had was on LNG service. So you laid out the growing installed base and what that could mean for the service opportunity. Can you talk about how much of Gas Tech services today comes from LNG service so we could just get a sense of what that growth could mean for the business?
Lorenzo Simonelli: Yes, as you look at our services business, and again, LNG accounts for about 35% of also the service. We have services transactional on all of our onshore, offshore applications as well as our installed equipment in the other areas of downstream pipeline, etc. But on the LNG specifically about 35%.
Marc Bianchi: Okay, great. Thank you very much. I’ll turn it back.
Operator: Thank you. That concludes the question and answer session. Again, we sincerely apologize for the technical difficulties experienced on today’s call. Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.
