With the HEP transaction being under discussion, we have been, at times, locked out of the market, but we continue to look for those windows and this most recent transaction is indicative of our desire and commitment to continue with our shareholder return strategy. And we expect to be on that trajectory through the end of the year.
Tim Go: Yes. And Neil, I’ll just throw in a few more comments, Neil. We’ve said in the past few conference calls that we can’t speak for the family. So the family decided to speak for themselves, and that’s why they put the 13-D out there. They wanted people to understand that they intend to transact directly with the company going forward. And then they also intend to maintain at least one more set for the foreseeable future. So, I think that provides some clarity in terms of what their intentions are, and they wanted to make sure that was clear to the rest of public. We said all along that in the middle of these HEP discussions, our window to buy back shares was going to be very restricted during the — during these discussions.
But as Atanas mentioned, we want to reiterate our commitment to shareholder returns. We found an opportunity between the two parties, and we took advantage of it and executed. And so we’ll continue to look for more numbers in the events as the year progresses.
Neil Mehta: Thanks Tim. The follow-up is it was very heavy first half of the year from a turnaround perspective and a lot has been made at that. As you kind of look through the back half, maybe you can remind us again of the maintenance schedule and how we should think about the volume trajectory for the balance of the year?
Valerie Pompa: Yes, think this is Valerie. We have two turnarounds in the back half of the year. Casper, our Casper facility and then Tulsa towards the back half of September and into the fourth quarter. So those are — impacts are listed and kind of more in our crude guidance. The rest of the year is a clean year. We don’t expect any additional outages.
Tim Go: Yes, Neil, I’ll just chime in. Val and her team have done a fantastic job of executing the heavy turnaround period that we had in the first half of the year. We knew all along that it was going to be a heavy load. We’re happy to report, as we mentioned earlier, that overall, the turnarounds are completed on schedule and on budget. And in fact, that’s the reason Atanas mentioned the lowering of capital guidance for the rest of the year is because of the way those turnarounds have been executed this year.
Q -: Thanks, Tim. Thanks, Val.
Operator: We’ll go next to Paul Cheng at Scotiabank.
Paul Cheng: On the refining reliability improvement long-term, I think, you have said in the past is a 5 — maybe five year to six year process and you are about two years to three years into that and were very happy turnaround that we are seeing. Are we still having another two years or three years, or do you think within the next maybe 12 months to 18 months, you will be largely complete. And when you complete on this process or initial process, what is the more sustainable — in a more sustainable reliability? What you see on [indiscernible] put per year that we could be looking for? And also what kind of cost structure under that circumstances will be?
Tim Go: Hey, Paul. This is Tim. You’re right. We are very pleased with how the turnarounds went. We’re pleased with how our capture is performing, as was talked about earlier on this call. But this is a long process, right? And we’ve told all of it — as we said all — it’s really measured by turnaround cycles, not by years. And so we’ve been working over the last two years or three years to improve our turnaround execution and to improve our turnaround performance this year, it just continues that effort. But we are — we talk in terms of turnaround cycles. And so with a little bit more color, let me ask Val to maybe chime in.
Valerie Pompa: Yes. So our focus on our turnarounds have been strongly aimed at reducing operating risk and improving our utility reliability. So we have a more robust and resilient system. So if you look at any refining complex, the more resilient we can get our utilities and infrastructure, remove aging equipment the better off your reliability starts to look. So we’ve taken a big step with our — those activities this year. We’ll continue to develop our turnaround strategies in the coming years to support a sustained reliability improvement year-over-year.
