Justin Jacobs: I appreciate you taking the time here. A couple of different categories of questions here. Let me start on CapEx. The CapEx numbers are surprisingly large, $30 million in the most recent quarter, sounds like you’d probably do something around another $30 million in the first quarter and $95 million for the coming year. Can you give me a description kind of as of year-end because when we have a detailed info, what — how many units are in the process of getting built? And can you break that out by 2,500 horsepower, 1,200 to 1,300 horsepower, 400 horsepower. Just kind of trying to get a sense of what the fleet is going to come online in the coming year.
Steve Taylor: Yes. From a debt balance standpoint, so as I mentioned, we have $25 million at the end of ’22 and $55 million at the end of essentially Q1 this year. So, we did spend $30 million in Q1. We had spent $25 million in Q4 because we had simply zero debt at the beginning of the fourth quarter last year. We’re anticipating each quarter going forward, about $20 million to $25 million. So Q2, Q3, Q4, and they will end up at that $25 million plus $95 million or $120 million debt balance at the end of this year. Now what that’s made up of in — if you allow me, I’m going to be a little vague on the count of equipment. I mentioned the 15 2,500 horsepower units. I don’t want to give too much away to the various ones listening in.
But the balance — the majority of the remaining and the remaining capital is 1,500 horse units, and that’s going to be probably half of the budget of the total budget. So to use $120 million. And then the balance between that and the 2,500 horse units is going to be the 400-horse range. So it boils down to 400 horse, 1,500 horse and 2,500 horse. And the 400 is going to be roughly 10%. The 1,500 horse is roughly 50% and the balance is 2,500.
Justin Jacobs: Okay. So let me go a little bit different direction. All-in cost right now for a 2,500 horsepower. One of those compressors, — not just the compressor, the overall piece of equipment to get it out in the field, what’s the capital cost for that, approximately?
Steve Taylor: The package, it’s going to run in the $2.75 million to $3 million range.
Justin Jacobs: Okay. And what is it for the 1,500 now?
Steve Taylor: Those are in the — that’s the same thing about $1 million cheaper. Well, let me say, $1.5 million to $1.75 million.
Justin Jacobs: Okay. So those have had — those have gone up a little bit because my recollection from a year or two ago, probably two years ago. Those were more $1 million to $1.5 million. So, it’s the inflation.
Justin Jacobs: When we started — yes, when we started building those 1,500 horse probably almost four years ago, yes, they were $1.1 million roughly. They’ve gone up quite a bit.
Justin Jacobs: Okay. I can probably back into — are any of the 2,500 horsepower as of year-end were any of those out in the field of — I think it was said 14 that you had contracted?
Steve Taylor: No. No, they’re being built.
Justin Jacobs: What’s the expectation of timing when they go out in the field?
Steve Taylor: It’s going to be a second half, I mean it’s hard to nail it down because some of that stuff shifts around, but it’s a Q3, Q4 sort of time frame.
