Operator: Thank you. We will take our next question from John Mackay with Goldman Sachs. Your line is open.
John Mackay: Hey everyone. Good morning. Thanks for the time at risk of again the answer that just wait for Toronto. I just wanted to follow-up on Theresa’s question on the Permian strategy. I mean is there any interest at this point of reaching further back and owning, let’s say, something on the gathering side? And then similarly, kind of just staying in the Permian, now that you have bigger stakes in both the big Corpus pipes, just any interest in potentially expanding those sooner rather than later? Thank you.
Greg Ebel: Sure. Look, never say never, but having just got out of a major gathering system on the other side on the NGL side. I think our focus and what we are really getting is big pipes and tied to the export side of things. So, Colin, you may want to add to this, I guess if it was really going to €“ we saw incremental value on the export side of doing that, that something be open to. But at this point, I think the way we are building this out is bigger pipes and figuring out ways to really serve customers on that front. But Colin, you may want to add to that.
Colin Gruending: Yes, I agree on the gathering point, less interested there for sure. And €“ but exclamation marks, behind the export strategy. And I think it’s becoming quite clear that the Corpus egress point out of the Permian is quite attractive. And we are building out and up from there, but only so far. We are €“ it’s initially an acquisition, a tuck-in acquisition strategy here, where we are deploying risk-adjusted returns versus build there, relatively attractive given build risks. And then synergies along the integration value chain, and potential expansions here. So, that’s the strategy in a nutshell, building out a light oil strategy to complement the top-notch heavy one that we have got further north.
John Mackay: Alright. That’s helpful. Thank you. I know we are top of the hour. I will just ask one more quickly, and it’s probably an easy answer. Any change in LNG export appetite that you are seeing either from your partners or kind of potential customers, given the pullback in global prices recently?
Greg Ebel: No, I think people are looking at this from a long-term perspective. Again, I will go back to €“ there is no future without natural gas. And I think parties €“ one thing I would say only come back 5 years or 6 years because there was a more practical approach to energy transition 5 years ago, we seem to get batten happy on the fact of plentiful fuel and stuff like that. And I think people are realizing, unfortunately, due to the situation in Europe and elsewhere that North America’s energy is needed abroad. And the only way to do that is through exports. So, definitely don’t see any pullback on the LNG side. And these players on that side have a much €“ they have got a very long-term focus on the price of the commodity and who they are serving.
So, I see €“ I think their use of the quantity prices has moved up and down. And €“ but they have got that long-term focus as do we. And so I don’t think you will see any pullback on that side. The biggest challenge in LNG continues to be permitting issues, right. And so some of our customers in the Gulf Coast, they need some real help out of the FERC. And of course, appear that’s always an issue as well, so permitting, permitting, permitting, not commodity, commodity, commodity.
John Mackay: Alright. That’s clear. Appreciate the time. Thank you.
