Clay Rynd: Yeah. We are drilling four Austin Chalk wells this year. So we have a small amount of capital allocated to the Austin Chalk. We’re watching others. We’re excited about the opportunity on the Western Eagle Ford asset. As you know there’s a lot of industry activity down there right now. And so, I think as always, kind of more on risk capital, we’re going to be fast followers, but we’re focused on the opportunity set and excited about the potential.
Hanwen Chang: Thanks. And the second question to put it in the Uinta Basin, we have seen strong production growth in the Uinta Basin in 2023. What’s your overall outlook for the basin-wide activity and production growth in the next few years? Thank you.
David Rockecharlie: Yeah. Hey, it’s David. And I’ll just cover this at a high level. It’s a tremendous resource across the basin. And I think we’re as an industry starting to see better and better performance from a level that was already good. So as we mentioned just in our opening remarks, we’re excited about how we were able to enter that basin and the value that we think we have developed there. We were targeting a proven area that has had significant horizontal development both on our position and across others and that’s only gotten larger. So I’d say a couple of things in specific response to your question and we see activity continuing to accelerate as the resource expands. So the way we think about it, is there’s more production and longer reserve life in that basin than there’s ever been.
And it looks like that’s going to continue. At the same time, as you know we are a business that’s focused on really growth through acquisition and maintenance of the business with the drillbit and really mindful of capital allocation and uses of cash flow. So what I would say is, we see very significant opportunity there. We think others growth will outpace ours because of a different business philosophy and strategy. But as Clay mentioned, we’re going to get to see a lot of development around us and then also participate in it. And I think that’s going to be great for us. So I don’t think we’re going to see a step change from here, but I think continued investment in growth in that basin with us pursuing a strategy similar to the one we’ve pursued across the business for the last 10 years.
And likely not leaning into growth as much as others might, but benefiting from the same resource potential. And really just given us a more predictable longer reserve life asset.
Hanwen Chang: Thank you.
Operator: Thank you. And we have reached the end of the question-and-answer session. I’ll now turn the call over to David Rockecharlie for closing remarks.
David Rockecharlie: Great. Thank you all again, for joining us today and for supporting the company. As we said quite simply, we think 2023 was outstanding performance. We’re proud of. We’re very optimistic about what’s ahead in 2024 and beyond. And in our opinion Crescent has never been better positioned than it is today to deliver on the value proposition we have. So we look forward to staying in touch and talking to you again next quarter. So thank you.
Operator: And this concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.
