Jeffrey Robertson: Does that roll out, at least from an operator standpoint, if they see the benefit of having that equipment on their job or on their pad. Do they then put pressure or basis that tell the pressure pumping provider that you need this on all the frac crews that you have dedicated to our business. And does that help pull demand for that product into the fleet?
Neal Lux: When we roll out a product like this and admittedly FASTConnect can be sold to pressure pumpers, can be sold to pressure control companies or it could be sold directly to operators and sometimes that happens. But when we roll out a new product like this, we want the operators to see the benefit, and we will market directly to them so they can see what’s happening on their well site and they can drive efficiency. We never really want to be in the position of having our customers told to use our products, but we want our customers to really enjoy and really love our products. And so that’s where our teams are focused. And if we can provide the value, our customers are going to have a good uptake, and we’re seeing that with the FASTConnect today.
And again, I just can’t get over how excited I am about our product pipeline. The teams are really focused on — in a flattish rig environment, if we’re going to be a successful company we have to bring in new revenue. We have to grow faster than the market. So new product development is an absolute pillar of that growth, and we’re focused on it completely.
Jeffrey Robertson: So it really comes down to showing the customer the economic benefit of the product, and that will — if it enhances their returns and they want more of it and obviously, that’s good for your business.
Neal Lux: Yeah, absolutely. And where our teams are focused to is let’s look at the value it provides. So rather than say, hey, this saves you money. What I think is really more important is this is allowing you to generate more revenue. You’re going to be pumping more if you have a FASTConnect on your well site. And that, I think, is where it gets really exciting for our customers and for the operators.
Jeffrey Robertson: And last question just on Variperm, a follow-up. I think early on you talked about using their products and FET’s international distribution to pull some — to maybe expand their international business. I know it’s very early days, but is there — can you provide any color on what you’re doing in that realm?
Neal Lux: Yeah. So it’s the — it is very, very early into that. And just to kind of reframe it, last year, Variperm was extremely busy on the oil sands in Canada, right? It was a big step up, and they were really 100% focused on taking care of their customers there. Now that we have the acquisition done, we are looking at other opportunities. I think this type of technology is used in the Middle East, it’s used offshore. So those areas where we have high value where the customers want the types of products, the premium products that Variperm provides, we’re going to target those areas. And we’re going to want to do it in a way that makes sense and keeps our brand value.
Jeffrey Robertson: Thank you for taking my questions.
Operator: Thank you. At this time, I would now like to turn the conference back over to Neal Lux, CEO for closing remarks.
Neal Lux: All right. I want to thank everyone for their support and participation on today’s call. We look forward to talking to you again in early August to discuss FET’s second quarter 2024 results.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
