Trevor Howard: Thanks for the question. So we do have open space today. What we are seeing is that we are in still a greenfield environment, and so the deals that we’re competing on, we’re seeing that other processors in the area are having to build processing in order to take on that gas, and so we’re still in a greenfield environment. Previously, when we announced the merger, we gave a guidance range for what we thought the EBITDA margin contribution per Mcf would be, and based off of the current environment, we’re not seeing any changes to that original guidance.
Olivia Halferty: Okay. That makes sense. Thank you. And then just shifting a little bit to the CapEx budget, we saw a meaningful step down this year, even including elevated maintenance spend and remaining project spend. How should we think about run rate CapEx needs from here? And what could drive upside to the budget? And then just, more broadly, how should we think about balancing upside to the CapEx budget with free cash flow generation?
Jamie Welch: Okay. So, Olivia, it’s Jamie. As it relates to run rate, a topic that is discussed a lot within these calls is, in fact, what is run rate. So I think as we look out, I would say, let’s just take the midpoint, the $145 million. I think you can certainly see that for growth in our existing system, even with accounting for, let’s say, thinking about any additional capital required for like Apache, if they brought on stuff in Alpine High, that you can manage within $100 million. That includes maintenance, and I’m going to take you back. You’ve got to go back 2 years, and the young man sitting to my right, we said 50 to 80. And, obviously, thinking about that was enough for both maintenance and growth. Now, the offset to that is if we do a processing plan, obviously there will be – it will become elevated in the context if we make a second half decision on FID.
As it relates to use of free cash flow, I think, Trevor explained that the point. Right now, if we don’t see other really compelling opportunities, free cash flow goes to pay down leverage. That’s what we should do. And that’s what we are doing. And that’s how we’ll continue to run the playbook. But the good news is, it’s nice to be in the position to have free cash flow and to actually be able to have that conversation where every constituency has a voice and a role to play and we decide as a team what makes the most value for this company.
Operator: Thank you, Olivia. There are currently no further questions registered. [Operator Instructions]
Jamie Welch: Thank you, everyone, this morning. We appreciate your time. I know March is a busy month. We’ll probably see many of you in March with your various conferences and stuff. So, we look forward to being in touch. Thank you.
Operator: That concludes the Kinetik fourth quarter and full year 2023 earnings call. Thank you for your participation. I hope you have a wonderful rest of your day.
