Now there could be some capital requirements there. But for third-party molecules, those are going to come to us, and we’re going to be able to participate in the upside, just like we have in the Alen project. So in aggregate, when I think about all of those opportunities, when I think about our already demonstrated success at Alen, we have commercial framework that works and that framework can be replicated. The fact that these molecules have to find a home or they’re going to be stranded gas. I have a lot of confidence that we’ve got a very strong trajectory for EG LNG out to 2030 and beyond.
Douglas Leggate: Appreciate the answer. Lee, thanks so much.
Lee Tillman: Anita, maybe we can do on question per analyst to try to make our way through remaining a key there.
Operator: Okay. The next question comes from Matt Portillo with TPH. Please go ahead.
Matthew Portillo: Just a follow-up to Doug’s question. Great to see the Texas Delaware making its way into the development program. Just curious if you can give us an update on the delineation plan for this year? What you’ve learned so far? And how this might impact kind of your inventory views for the Permian kind of moving forward?
Patrick Wagner: I’ll take this one. Matt, this is Pat. Yes, as you said, we just completed three wells on our most recent pad. The wells are performing well to date, consistent with our predrill expectations. All three wells and achieve at least 1,000 barrels of oil per day on flow back. It’s still early. We’re still watching the wells. We need some time to look at longer-term performance, but early indications that are good, they’re exhibiting high oil cuts, they’re showing low water on ratios and a low decline, some positive outcome there. You may recall that we deliberately down-spaced this pad in Woodford and check our spacing development. We collected a lot of fiber data and other day to try and work in the optimal spacing, both vertically and horizontally.
The key takeaway so far is that there’s no communication we’ve seen between the Woodford and the Meramec, which gives us strong evidence that we can successfully co-develop those two reservoirs without in the period. With regard to future development spacing, I’d say early learnings from this pad appear to confirm our original view that optimally will probably go with a 4×4 co-development. That will be the most capital-efficient way to develop the acreage. I’ll remind you that the previous pad, we had the strongest Woodford oil well average drilled and that well continues to just be a really strong well. We now have about 12 wells online across the 55,000-acre position that we have 8 in the Woodford or in the Meramec. Again, very confident in all their performance very high oil productivity, low water ratio and shallow decline.
And we think ultimately, this play is going to generate very high returns. As Mike said in his opening remarks, no longer an exploration play fully integrated into the team. It will compete with cap for capital with the rest of the portfolio. That said, we will drill another multi-well pad this year to continue the development, and we’ll see how it goes. We’ll help in that.
Operator: The next question comes from Subhasish Chandra with Benchmark Company.
Subhasish Chandra: Just curious on your gas views. Yesterday, we might have seen a company that targets oil and see gas as a derivative. And the risk of that strategy, given what’s happened in the macro world. I think in your commentary, you are more cautious on gas, at least in Mid-Con, et cetera. But could you talk more specifically to how you might adjust activity at all based on gas prices? And secondly, I should — well, a follow-up — no follow-up on the Bakken. Bakken is getting gassier, and how you kind of look at that going forward?
