William Pate: Sure. I think you — we’re going to continue to try and focus on the distillate side of the barrel. I think long-term that is ultimately what the communities we serve need, and ultimately, I think, that’s going to be a portion of the barrel that’s going to, frankly, pull the weighted average crack over time. And so I think you’ll continue to see our focus be on distillate production and even trying to increase flexibility on distillate production in places like Billings.
Nicolette Slusser: Okay. That’s great. Thank you. And the follow-up is just on some of the longer term opportunities the company is pursuing. Can you just remind us where we stand in regards to the FID expected this year on the longer term Washington hydrogen and SAF facilities and higher balancing, those with the near-term renewable-oriented projects as well?
William Pate: Sure. So I think we’re continuing to pursue the engineering on that front, and simultaneously, I think, trying to evaluate capital partners that would be available to pursue that project. Again, there’s still certain aspects of it that are attractive, given its location on the West Coast and a favorable jurisdiction. That said, I think we’re mindful of the current renewable backdrop and what that means for returns, and I think we’ll continue to be disciplined on our capital allocation framework and how we think about growing the renewables business segment.
Nicolette Slusser: Thank you very much.
Operator: [Operator Instructions] The next question comes from Jason Gabelman with Cowen. Please go ahead.
Jason Gabelman: Yeah. Hey. Thanks for taking my questions. You noted some pay down in environmental liabilities with 4Q results, which I’m assuming are related to RINs. Do you have any outstanding RIN obligation that you’ll need to pay down moving forward kind of beyond what’s kind of the typical annual amount that you would hold?
Shawn Flores: Hey, Jason. It’s Shawn. No. We’ve closed out all of the legacy RIN obligations and we’re just obviously accruing our current obligation and procuring RINs rateably from here.
Jason Gabelman: Got it. And then, can you remind us of your upcoming turnaround schedule? You mentioned the Montana turnaround. Do you have anything else this year and then as you look to 2025?
William Pate: So, Jason, I think, nothing else major planned this year. Again, I think, you heard my reference to the small 15-day audit we’re planning in Washington. Again, that’s, I think, something we’re largely looking to try and manage from inventory. There is some profit impact and you’ll see the reduced throughput expectations for the first quarter. And then, again, I think, we’ve discussed on Billings that we expect in 2024 and 2025 to complete really the full turnaround cycle. And so, again, if you look at our guidance, we’ve signaled really the $18 million to $22 million per year and the typical cycle is five years to six years. And so, again, I think, we’re looking at completing that full cycle between 2024 and 2025.
Jason Gabelman: Okay. Great. Thank you.
William Pate: Thanks.
Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Will Monteleone, President, for any closing remarks.
Will Monteleone: Great. Thank you again for joining us today. In closing, I’d like to recognize Bill for his many contributions to our company’s success. We’re grateful for his inspired leadership, wisdom and humility. We have a strong business outlook and our talented management team is hungry to drive the next chapter of our growth. I’m excited by the opportunity to lead this growing enterprise into the future. Thank you to our shareholders for your support and have a nice day.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
