Josh Viets: Yes, Bert, this is Josh. Yes, we did extend the expectation for inflation for the full first half of 2024. We’ve just continued to increase our confidence in that expectation as we’ve been able to shore up contracts. And so when we do reference that 50% of contracts, by and large, those are all fixed pricing. We do have some contracts that will start to show up in the second half of the year that have some built-in escalators, but that represents a relatively small amount of our total spend. And that’s why I think we feel pretty good about actually seeing and preventing any additional inflation in the second half of the year because the majority of the spend is locked in at fixed pricing for the large part of 2024.
Bert Donnes: I appreciate it. Thanks guys.
Operator: Our next question will come from Scott Hanold with RBC Capital Markets. You may now go ahead.
Scott Hanold: Yes, thanks. If I could probably ask a question on 2024. Nick, I think the prior commentary around — talked about optionality of bringing the Haynesville rig and the first part of the year and then maybe a Haynesville and Marcellus in midyear. And it sounds like you’re — I guess, your view on the market for the gas for 2024 hasn’t changed too much. In fact, you said that the inventory overhang went down a little bit. So, I’m just kind of curious on why sort of pushing back some of that production recovery into next year?
Nick Dell’Osso: Sorry, yes, I wouldn’t really view it as pushing it back, Scott. We’ve said during the year, and we could change the timing of that still a little bit. I mean, if we come out of this winter in a really strong market, we could bring a Haynesville rig on sooner. So, we’re trying to be pretty flexible in how we communicate this. As of right now, we think we’re pretty happy with where our Marcellus position sits relative to the production we can generate and the capacity of the market to take that production in the Northeast. If that changes, we could easily add a rig there, too. So, we’re pretty flexible around all of that. And in order to give you a CapEx number, we gave you a scenario, which is to bring a Haynesville rig on it midyear. And that easily could change, and it frankly probably will change. There’s a lot we need to understand about where this market is headed.
Scott Hanold: Okay. So, fundamentally, no major changes to your view on 2024 at this point versus, say, where you were two months ago?
Nick Dell’Osso: That’s correct.
Scott Hanold: Got it. Okay. And as my follow-up question, could you talk about the differentials in the Marcellus strategies you guys are using to help mitigate some of the blowouts. And you talked about extending your elective deferrals, just when you think that might end?
Mohit Singh: Yes. So, Scott, this is Mohit. We remain active in our hedging program. So, the guidance I would give you is we are about 75% to 80% basis hedged in both our businesses for the winter. And then when you start coming into next year, it’s more around 60%. So, again, that’s trying to take that uncertainty out from the future outcomes, and that’s a combination of financial and physical hedges that we are put into place.
Josh Viets: And Scott, just to build on to that as well as far as kind of current outlook. We are starting to see some improvements. in pricing up in the Northeast right now. That’s allowed us to start bringing on wells. We brought on about 12 wells through the first month of the quarter. We’re looking at opportunities right now to start taking some of the base that we’ve had curtailed for the last couple of months and bring that back into the markets here over the next couple of weeks. So, we are definitely starting to see some improvements there, and I think that just further supports the outlook that we provided for Q4 production in the asset.
