David Schorlemer: Derek, this is David. Just to add to that. We talk about the market industrializing. This is a consequence of exactly that. What you’re seeing particularly for the companies that have a bifurcated service offering like ProPetro is lower amplitude in the movements of the market, but also not the same level of amplitude when things turn around. So I think overall, that means that we have more durable and repeatable results. I think that’s attractive to investors long term. And I think we like it that way. It’s easier to manage a business where you have more expectations of demand. And that’s what we’re building in the business for is that long-term repeatability and durability in earnings.
Derek Podhaizer: Great. Appreciate all the color. I’ll turn it back.
Sam Sledge: Thanks, Derek.
Operator: And our next question comes from Luke Lemoine from Piper Sandler. Luke, please you may proceed
Luke Lemoine: Hi. Good morning. Sam, you gave us the cadence for the upcoming FORCE fleet deployments. But could you maybe provide some commentary on FORCE Fleet 1operations and how it’s been going? And then maybe provide a contracting update on 2, 3 and 4?
Sam Sledge: Sure. Yes. Fleet number 1 has been at work for a couple of months now. We started out as kind of a hybrid half electric half dual fuel fleet. And we’ve since I think each additional pad added more and more equipment, and we’re basically running very close to the full electric fleet, if not a full electric fleet on that location right now. The main data point for us is that the customer is very satisfied. And the initial deployment has probably gone better than expected for us and our customers. So that’s really strong for us in terms of how we move forward into 2, 3 and 4. Number 2 should hit the ground here start hitting the ground here in the next few weeks. And I think it’s safe to say that the contract for that one is basically imminent — we’re basically on the one-yard line.
I don’t have anything tangible to announce today, but very, very positive in terms of where we sit on number 2. The demand for 3 and 4 is very strong. It’s not going to be — is it going to go to work under a contract. It’s going to be who is it going to go to work under contract for. So we’re being deliberate and picky about how we move forward with 3 and 4, but we feel really, really good about where we sit commercially with those.
Luke Lemoine: Okay. Thanks, Sam. David, thanks for the fleet count for 4Q. But could you talk about any variances in EBITDA per fleet you see for 4Q? Or should this be fairly unchanged with most of the delta coming from the fleet count move?
David Schorlemer: Well, I think that the seasonality will end up seeing some contraction in fleet performance. As we mentioned in our guidance, we do expect activity to be less robust than what we saw in the third quarter. So I think you should expect some contraction there. In addition to that, we talked about how we have this operating lease. Those lease costs will show up in our cost of services. So that will impair a little bit on the EBITDA per fleet performance, but we are incorporating the capital charge in there, which we think is overall a great return on capital but something to keep in mind in your modelling.
Luke Lemoine: Okay. All right. Thanks guys.
Operator: And our next question comes from Arun Jayaram from JPMorgan Chase. Arun, please go ahead.
Arun Jayaram: Yeah, good morning Sam and team. Sam in your backyard, we’ve seen a tremendous amount of consolidation of the resource base with companies such as Concho, Parsley and Pioneer effectively in the hands of the majors. What do you think this means for pump long-term? And talk about how you’ve adjusted your marketing approach to adapt to this kind of new market reality?
