Kyle Ramachandran: Yeah. So, Don, last year, I think we had two increases to the dividend on a per share basis. So feel very good about the $0.12 a share sort of run rate today. Our buybacks are opportunistic, as you alluded to. And I think priority for us is reloading the balance sheet a bit. We borrowed on the revolver to again opportunistically repurchase some shares last year and a little bit in the first quarter, which delayed some of the paydown, I think we would have seen more debt paydown in the first quarter had we not been in the market buying back shares. So I think on balance, we expect to see some added liquidity to the balance sheet via paying down some debt. So I think that’s sort of how we’re seeing the capital allocation.
Since the fourth quarter of 2018, the dividend has been paid. We have not cut it. We’ve increased it multiple times. So that is absolute priority, and it’s very important to us. And we’ve got a lot of flexibility here as we look forward to look at reloading the balance sheet, as I mentioned, buybacks, look at the dividend, as well as organic and inorganic growth opportunities that we’re constantly evaluating it. We are in a really good position to evaluate lots of options given the cash flow coming off the business.
Don Crist: I appreciate the color. Thanks a lot. I’ll turn it back.
Operator: Our next question comes from Sean Mitchell with Daniel Energy Partners. Please go ahead.
Sean Mitchell: Good morning guys. Thanks for taking the question. Obviously, seeing a lot of M&A in the E&P space. We’ve seen a little bit more in the larger service space. Just maybe give us a little color if you have any, on just kind of M&A opportunities or thoughts around M&A in the smaller cap service space today versus maybe six to 12 months ago. It feels like for a while, expectations were probably out of whack to get deals done. Is that getting better? Or what are you guys seeing on the M&A front?
Bill Zartler: I think expectations, we’ve been in this cycle where valuations are down for not long enough to people get the private guys get the picture. There’s no massive bite. Even though everyone has a hockey stick in their forecast, the market doesn’t have a hockey stick. And so as we look for opportunities out there with unique technologies, with generally protected or closer markets and offerings that we think makes sense, there’s a lot out there. I think the privates are beginning to evaluate, especially those held by some legacy, longer-term PE holders, it’s sort of getting to be time to begin to market these things. And so having the balance sheet ready is important to us.
Sean Mitchell: Got it. Okay. Thanks for the color.
Operator: You have reached the end of the question-and-answer session. I’d now like to turn the call back over to Mr. Bill Zartler for any closing remarks.
Bill Zartler: Thank you, Megan. This year, marks Solaris’ 10-year anniversary since its founding as a company. When we look back over the last decade, we’re amazed at what we’ve accomplished as a team and we far exceeded our original goals that we laid out. I’d like to thank all of our employees, our customers and suppliers for continued partnership and making Solaris a success over the decade. As we think about the next 10 years, we’re very excited about continuing to deliver new and innovative solutions for our customers that continue driving improvements in well site efficiency and help us continue executing on our shareholder returns program. Thank you all, and we look forward to sharing our progress with you in a few months.
Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.
