Noel Parks: Got you. And I was just wondering one thing about reserves. Did you see any tight curve of improvements or upward revisions in reserves this year with the engineers?
Chris Stavros: We did. We did. And you’ll be able to see that more specifically once we put out the 10-K, which will be here soon very shortly. So we did speak to directly there in terms of some performance — positive performance revisions.
Noel Parks: Terrific. That’s all for me.
Chris Stavros: Thanks.
Operator: The next question is from Neal Dingmann with Truist. Please go ahead.
Neal Dingmann: Good morning. Chris, I think I always had to answer this for you or Brian. But just — could you just talk about just on capital allocation? When you guys think about buybacks versus divs these days, anything that caused you to change that plan?
Chris Stavros: Yes. I mean the share repurchases, I mean we talk about doing this 1% at least regularly every quarter and there’s nothing changing around that. But if you look at the last two years we’ve probably done double that rate. And that’s largely been to help out EnerVest as they’ve sold down. So we’ve purchased a lot of shares from them. As that peels off or starts to go away here, you could see — we’re committing to the 1%, but you could see some of that excess cash that’s been allocated to share repurchases move a little bit more towards dividends and that’s sort of my thought. But on the dividend, again, I’ve said this repeatedly you want to prudently grow into it. You don’t want to rush to grow out of it. And so you just want to be steady and maintain the safety and security of that dividend.
And so, I wouldn’t see us sort of leaning in on some sort of variable dividend process. We just want to grow that dividend steadily. And that’s what good dividend growth companies actually do.
Neal Dingmann : I was wondering if you can bring up that your wife like dividends like your great leader once said but
Chris Stavros : I always consult with her before, yes.
Neal Dingmann : And with that can I just have a follow-up on that with the immense amount of cash you all have, is that out there just in case that with the EnerVest, or could you talk about that cash that you have on the books very significant?
Chris Stavros : Yes it is. I mean, we’ll see how things go with EnerVest, and we’ll see how things go with some M&A opportunities or bolt-ons that we can look at. I don’t have anything in mind that’s imminent right now. And so like I said, it’s okay to have a little bit of extra money in this sloppy environment. It’s obviously not a great day to report results here with the up here today where the day ends. But it’s always not a it’s not a bad thing to have a little bit more cash on hand given some of the general macro uncertainty and variability, volatility in the market these days. So we feel very safe secure. But again, the point is that it’s just — it’s not doing a lot for us just to sit there and look at it may make you feel better or someone feel better, but you’d actually want to put it to work to improve the business.
