Nick O’Grady: Yes. I mean, I think the simplest way to say this and assuming, obviously, keeping costs constant for a second Donovan, if we spent the same levels of activity this year that we — next year, we would certainly see growth. We do highlight this in our earnings presentation, but the effective roll off of some of that MPDC activity, and we what we try to highlight is, obviously, the guidance is for 91,000 and 96,000 barrels a day, you’re obviously going to exceed that at some point as that project completes. And as Jim pointed out earlier, your decline rate is going to be a little bit higher as you kind of reach that zenith. But you need about to that wells a year to kind of hold above 90,000 barrels a day flat, public wrote a little bit from that base over time.
And so you’re talking about $600 million to $700 million of sort of sustaining capital underneath that those levels. But obviously, our guidance is more like 750-ish this year. So if you continue to at those levels, you’re going to grow, I will say, when you talk about one year to one year that the cadence of that spending really matters, too, right? So because you’re going to carry forward those barrels into a year. So not all dollars are equal, but that should be some good goalposts for you.
Donovan Schafer: Okay, great. Yes, that’s very helpful. And then, if I could get another — for second question, I know that it might seem a little bit like a bit of an oddball question. And when you probably haven’t gotten in a while, but I am curious to know if you would ever consider taking non-op positions outside of these U.S. shale plays. There are still some conventional onshore opportunities in there. And then, you have things like Gulf of Mexico or Canada or moving somewhere international. And I know you don’t — certainly wouldn’t fit into a core competency, or you have this real differentiated knowledge base. But of course, building yet to start somewhere to build that knowledge. And so I’m just curious if you think about stepping out into some of these other areas, doing a little like a small degree of dabbling to build that knowledge base. I’m just curious to know just how you think about that.
Nick O’Grady: Well, I will agree, that is an oddball question. But the answer is, I don’t think so. I mean, I think we’ve seen a handful of Canadian opportunities on our way, and they’ve never made it past the email inbox. I think, we take great pride, and we take this really seriously about having technical knowledge. We spent over two years in the Permian before we bought 60 acres, right? And so if you’re going to do something, you need to do it well, and I think that, we’ve seen this one, we’ve been shopped conventional opportunities in the United States which is within this country. And those are just simply, our technical team is focused elsewhere. And so we want to focus on what we’re good at. So I’d say that’s a relatively low probability outcome for us.
Adam Dirlam: Yes. I guess to frame it up a little bit differently. In terms of the M&A landscape, I think the most interesting opportunities that we’re seeing currently are within the basins that we’re already in. And that’s not to say that we’re not canvassing different basins within the lower 48. Because we look at the Eagle Ford, we look at the Haynesville, we’ve looked at the DJ, we’ve looked in other basins in that regard, but I think even stepping out into any of those basins, you’re going to have to have a hurdle rate that’s going to need to be compelling in order for us to dedicate significant resources to that. And so I think we’ll continue to keep our ear to the ground and take a look at these other basins from a shale standpoint, but even then, it’s going to have to be a higher bar.
