So that’s an exciting area for us. And really what it looks like for the public investor, it kind of looks like private equity exposure except with daily liquidity and frankly more inline with the investor. And so that’s a neat strategy. That’s one that Tyler and I spent a lot of our time on is how can we grow that because the base business, our burgers and beer strategy, that’s just a great mouse trap that’s been built over the past decade. And we’re not going to come in and dramatically change that, but we can focus a lot on the strategic partnerships and I think it’ll be a real driver of growth for us.
Jeff Grampp: Understood. That’s really helpful. Do those typically, are those €“ do those tend to be bespoke to the needs of the operator or is there a particular structure in terms of €“ are you guys acquiring a working interest across a specified amount of acreage? Are you acquiring other strategic partnerships like on undeveloped locations or just kind of curious how you guys tend to structure those if ?
Luke Brandenberg: Yes. So it’s bespoke to the operator and what I’d really look at that, it’s kind of interesting, if you look over the course of private equity, private equity did more project financing and then really went to a model that was more corporate level, they wanted to be involved in everything the management team is doing. These strategic partnerships can be more project than nature, but the difference is, if these projects are a drilling unit, for example, you’re often developing the whole thing on day one. And so as a result, it’s project finance, but it’s really a 100% of what they’re doing in that unit. So it’s kind of a neat hybrid there. Our objective is to always stay at the working interest level and provide a structure that allows, I mean, our partner operators to have their own interest, they control their company.
Again, we agree on capital spending upfront. We agree on the plan upfront. And so they’re really though are to hit the , the asset level partnerships and they’re generally on a project basis, but we may have a, area of interest with the operator to where the opportunities that they see in any particular area may come to us.
Jeff Grampp: Got it. Understood. That’s really helpful. I appreciate the time guys.
Luke Brandenberg: You got it.
Operator: We have no further questions at this time. I’ll turn the conference back to management for any closing remarks.
Luke Brandenberg: Thank you, Regina. Just want to again, thank everybody for being on our call. This is an exciting time for us. Our first public earnings call to take Q&A. So just very much appreciate your time. I appreciate your interest in Granite Ridge and €“ look, we’d love to chat with you, we’d love to come see if you have any questions and look forward to many more calls in the future.
Operator: Ladies and gentlemen, that will conclude today’s meeting. Thank you all for joining. You may now disconnect.