Praneeth Satish: Got it. Thank you, guys.
Operator: Thank you. Our next question come from the line of Naomi Marfatia with UBS. Please proceed with your question.
Naomi Marfatia: Hi. Good morning. Thank you for taking my question. Maybe as a follow-up to an earlier question. As we look ahead seems like I think has some good Permian growth expectations particularly around the Delaware. Can you give us an update on potential need for adding processing capacity beyond the TIGER-II plant location?
Jesse Arenivas: Yes, it’s of course you’ve been focused on getting TIGER-II in service to enable the next leg of growth. As far as looking beyond that the good news is we’ve now three times successfully relocated an existing processing plant to the Permian. And so that gives us the luxury of being able to time the decision to add capacity closer to the need. So we’ll be watching carefully as the year develops and as our producers share their plans with us when the right time to add that capacity and we don’t think that the decision we have to make today because with the benefit of a portfolio of assets eligible for relocation we can bide our time a bit and learn more from our producers to get the timing just right.
Naomi Marfatia: Great. Thanks for the color. Maybe to switch on to capital allocation, given endings high FCF. Curious on the thought process around balancing the value proposition between buybacks or and or deleveraging?
Jesse Arenivas: Yes. We remain focused on returning capital to the common unit holder. As we said in the prepared remarks, over the past few years now we’ve eliminated about 10% of the shares outstanding through the share repurchase program. And we’ll continue to execute the 200 million common unit repurchase program that the Board authorized for this year. And on the balance sheet side we’re in very good shape having just gotten the upgrade to BBB- from — from S&P and we are at or slightly below in fact our leverage target. So we are largely going to remain focused on the on the common unitholders.
Spiro Dounis: Thanks for the call. And have a great rest of your day.
Jesse Arenivas: Yeah.
Operator: Thank you. Our next question comes from the line of Jeremy Tonet with JPMorgan. Please proceed with your question.
Jeremy Tonet: Hi, good morning.
Jesse Arenivas: Good morning.
Jeremy Tonet: I just wanted to touch base on the Louisiana side a little bit more as far as either phases of the project and just wanted to get a sense it a better feel for I guess what the scope of the potential opportunity is in the timeframe that these — these phases could come to fruition?
Jesse Arenivas: Good morning to all of you again, on the ‘Henry Hub to the River’ project is indeed a great example of a quick to execute, good return on capital project that needs immediate customer demand and leveraging our assets in the ground. So just a bit color on the project this one adds compression along our 26 inch connecting the ‘Henry Hub to the River’ project market to increase throughput by about 210 million cubic feet per day. The best thing is that we are fully contracted for this project with a diverse set of creditworthy customers. So that project is well underway and on execution. I’ll also add that we executed a similar project like this last year by adding compression to increase deliveries to the Venture Global Calcasieu Pass project again by about 200 million cubic feet per day.
And the good news today, that we believe have more demand for this. And we are working on even other opportunities to bring additional supply to our systems through better interconnectivity, new-build pipe natural gas storage expansions et cetera. So the funnel of opportunities is quite encouraging, beyond these debottlenecking type projects that I just mentioned the storage expansion, the renewable part et cetera. We will take a little bit longer, but the teams are, very focused and bringing these projects to market because clearly there is a market demand for it.
Jeremy Tonet: Got it. So does that kind of like? No, we shouldn’t really expect any incremental announcements in the near-term. Kind of things are accomplished in the near-term for the Louisiana strategy or just trying to get time timeframe of when these items could come together, as you outlined?
Dilanka Seimon: Sure. Sure, I think the near-term you potentially can expect something on the storage side, as we’ve talked about the 9 Bcf our storage expansion, we are working on. We’ve completed the engineering studies. And we are busily marketing of that expansion. So in the next couple of quarters you can potentially expect us to have FID our storage expansion as well.
Jesse Arenivas: And Jeremy, this is Jesse. Let me just add kind of on a macro scale. We’ve said before you have the optionality of our Louisiana assets is MBS. We operate two of the four market systems. There’s redundancy. So there’s a lot of these low — a lot of low hanging fruit that we continue to trade at a deal doesn’t meet the customer demand. So I think you know it just proves that owning this diverse set of assets continues to provide future opportunity for our business.
Jeremy Tonet: Got it. Thank you for that. And then just quickly wanted to go to the Oklahoma and North Texas segments and just wondering given the current strip, and given your producer-customer conversations how do you feel about executing against that segment guidance at this point?
Jesse Arenivas: We feel good about the segment guidance at this point. Clearly there was a headwind from the weather and a little bit of extra activity in the first quarter. But like I say I think most of that is in the rearview mirror or will be here shortly. And I think things look bright particularly in Oklahoma as we get closer to the end of the year, as the strip for 2025 gets closer becomes closer to it realization.
Jeremy Tonet: Got it. Thank you for that. I’ll leave it there.
Jesse Arenivas: Thanks.
Operator: Thank you. Our next question comes from the line of Elvira Scotto with RBC Capital Markets. Please proceed with your question.
Elvira Scotto: Hey, good morning, everyone. I guess just one question from me any impact that you guys see from kind of where the Waha prices are, the negative Waha prices. I know you have some takeaway capacity I believe on Whistler. So it really impacts when Matterhorn on zone. I think you did some capacity but just any color there would be helpful.
