Jeanine Wai: Okay. Great. Maybe moving to base declines. Can you provide an update on your current base declines given the 3% oil and the 9% Boe growth this year? Do you anticipate that your oil and corporate declines will remain flat or at least — or maybe even decrease this year?
Billy Helms: Yes, Jeanine, this is Billy again. The base declines have been fairly consistent, I would say, year-to-year. And we don’t see a measurable change really in our base declines going forward. I think last year was a pretty good year as compared to this year, and I expect the declines would be similar.
Operator: Our next question comes from Derrick Whitfield from Stifel. Your line is now open.
Derrick Whitfield: With my first question, I’d like to lean into the new completion design you’ve implemented in Delaware that achieved an 18% AUR uplift. Could you perhaps elaborate on the nature of the enhancement and if it would to be across and outside of the basin?
Billy Helms: Yes, Derrick, this is Billy Helms again. On the new completion design, certainly, we’re always experimenting with new ideas and trying to innovate as to ways we can improve well performance over time. And we’re excited about some of the new advancements and techniques we’re experimenting with the Delaware Basin. And to be honest, that’s just more color on why we like to get to a consistent program and where we can innovate and experiment and make these improvements. So I’m not going to go into detail about what this new completion design looks like. But certainly, as we continue to advance it, we will translate it to — import that technology to other basins, and we’re already doing so. We were excited about the 18% uplift we’ve seen, but it’s only been done on 26 wells so far in the Delaware Basin.
So you can see it’s still early on. The amount of the improvement is tremendous though, and we fully expect to be able to transfer that knowledge to other plays.
Derrick Whitfield: Perfect. And as my follow-up, perhaps shifting over to the Eagle Ford. We noticed the legacy wet gas position was seemingly reengaged in your supplement update. If I recall, that initial position was in the order of 26,000 acres. Could you perhaps comment on what has brought it back to life and the amount of activity you’re expecting over the next couple of years?
Ken Boedeker: Yes, Derrick, this is Ken. Yes. Really, what’s brought back to life is our people in our San Antonio division, have reviewed it and realized that they could invest at high returns in that area. So we’ve actually looked at three different zones within that area and drilled three wells last year that had significant returns, and we’ll see additional activity this year. I don’t know that we’ve given an exact well count, but it will definitely be stepped up. And really, it’s just a matter of having legacy acreage and our people understanding where we think we can make those kind of returns.
Operator: Our next question comes from Charles Meade from Johnson Rice. Your line is now open.
Charles Meade: I want to follow up on Derrick’s question, which was a great question. I’d just like to push a little bit further on that Delaware Basin completion design. I understand you don’t want to talk about what it is. But as I mentioned, some of the possibilities, I’m curious, is this something that you apply to whatever your maybe fringier intervals that’s something that’s bringing that — bringing kind of a lesser interval up to the — your double-premium threshold? Or alternatively, is this something that you’re doing already on — or is this a new design kind of a meat and potatoes interval that could maybe herald a broader shift hire in your whole Delaware Basin capital efficiency?
Billy Helms: Yes. Charles, this is Billy Helms. Yes. The new design is — really starts with an understanding of the rock we’re applying it to. I think we’ve talked in the past about how all of our designs are tailor made to every wellbore and whatever the geology is telling us is the right application for that. So is it something that we could apply to all zones? I would say probably not, but it’s certainly more attractive than other zones. But it is also being done in the core of the play. It’s not just applying to the fringe intervals or the fringe of the plays, but some of our core plays or target intervals and we’re seeing dramatic improvements. Now it’s going to be — continue to be tailored based on what the geology tells us is the right application, and we’ll tweak it and be able to transfer that knowledge as we see it develop.
