Kim Dang: Yes. I think that acquisitions are easy to imagine and hard to do. And so I think that it’s more – acquisitions are more opportunistic is what I would say for the most part. And yes, we are always interested in acquisitions and have been since our inception, and we have a pretty disciplined process around looking at it. There are three criteria that are core for us to do an acquisition. One, the asset has to fit our strategy. So it needs to be fee-based, energy infrastructure. Two, it needs to have the right attractive economics around it, which means it needs to be accretive to DCF per share and have an attractive unlevered after-tax return. And three, it can’t be – we prefer that it not be dilutive to our long-term debt metric of 4.5 times debt to EBITDA. And generally, I don’t think we would do something that is relative to that debt metric. It would have to be something that was very, very special.
Neal Dingmann: That all makes sense. And then, Kim, I think you mentioned you mentioned earlier, something about the RIN price. I’m just wondering, did you say you saw this increase in or maybe also could you speak to the direction of your – of the D3 RINs?
Kim Dang: On the D3 RINs, they have gone to $3.40 right now, I think. So they were below $2 before June when the EPA came out with the new RBOs. Post that, they traded in and around $3. And in the last week or so, we’ve seen them go up to $3.40. And hard to pinpoint exactly what that is, but I think there may be people out there that haven’t satisfied their 2022 obligations yet, and that could be driving some of the 2023 pricing. So I think RINs prices right now look pretty good for 2024.
Neal Dingmann: Yes, it sounds encouraging. Thank you.
Operator: Thank you. Our next caller is Keith Stanley with Wolfe Research.
Keith Stanley: Hi, good afternoon. Sorry, if I missed this, but any updated comments on the potential to expand Gulf Coast Express and where things are in discussions with customers and how soon that could move forward.
Kim Dang: Yes, we continue to have discussions with customers and – which is kind of where we were last quarter at this time. And I think there are people that are interested in that, but we don’t have anything to announce yet.
Keith Stanley: Okay. Second question, just on the 2023 commentary of being slightly below plan. It just – it seems to me like the company was pretty much on budget in the first half of 2023 on the EBITDA line anyway and Q3, maybe less than $50 million below budget. I mean, are we talking, when we’re saying slightly below plan that maybe even like less than 1% below the EBITDA target? It just seems kind of small with you guys calling it out.
David Michels: Yes. Hi, Keith, it’s David. Yes, it’s – that’s why we said slightly below. It’s not a material amount below. It’s disappointing that we are below because we’re having really strong performance across a number of categories in our base business. The commodity price impact is less impactful now that we’ve seen some improvement. But as we go through the year, we put on additional hedges and so forth. So we have less upside as the later part of the year improvement in commodity prices materialized and we’ve continued to have some weakness in other parts of the business that offset some of that commodity price improvement. So net-net, it’s – unfortunately, I don’t have additional detail for you with regard to a slightly determination. But yes, it’s disappointing that we’re still a little bit down, but it’s not much.
Keith Stanley: Okay. Thank you.
Operator: Thank you. Gabe Moreen with Mizuho, you may go ahead, sir.
