Miguel Galuccio: So let me first start with the recap of Q3. So Q3 production in barrels of oil equivalent was 49,500 barrels of oil equivalent per day. It was pretty much flat with last year and quarter-on-quarter with 6% increase. In terms of oil production was 41,500, so that was driven by the tie-in of the two wells, as I explained in the call from Bajada del Palo Este. And we have the delay of the tie-in of the cube to late July. This cube is supposed to be tie-in early July, and that was basically the delay that we are having and the shortage that we’re having on production. On pro forma basis, and this is basically after the transfer of conventional assets, the production increased year-on-year 12%. And if you look at the monthly breakdown, in July, we were 45,600 barrels of oil per day, 49,900 barrels of oil per day in August and 53,000 barrels of oil per day in September.
So in Q4, we will connect additional 11 wells, where we expect to be more or less at 60,000 barrels of oil per day by Q4 average. So, our exit rate in order to be 60,000 average, you can assume that it will be probably around 65,000 barrels per day equivalent. This will leave us well on track to deliver our 70,000 barrels of oil equivalent per day average for next year 2024 as we have defined our target. So, I think this is pretty much we explain. And the only delay that we have in production was, as explained, coming from cube.
Oriana Covault: Just another one, and understanding the natural gas business is rather marginal to Vista. But just we noticed this decrease in prices for the industrial segment. So, if there’s any color that you can share on this with regard vis-à-vis the planned gas prices, they were very-differentiated?
Miguel Galuccio: Yes. No additional color as to everything that you know. I mean commercial gas prices were lower due to the Argentina current situation and devaluation and so on, no more to re-teach you.
Oriana Covault: And just one last one regarding the working capital for your free cash flow generation. Any impact in terms of this increase in receivables that we saw quarter-over-quarter? Is this normalizing already through early fourth quarter?
Miguel Galuccio: It normalized, as you know. I mean this is the effort that basically would delay the collection from September to October and is normalized.
Operator: Our next question comes from the line of [indiscernible] from Citi.
Unidentified Analyst: I’d just like to hear some of your thoughts regarding the devaluation after the peso. And how is that playing vis-à-vis your lifting costs? And how do you think that could move forward, especially after the elections, if there’s another devaluation too?
Miguel Galuccio: Look, a devaluation could help to reduce lifting costs marginally and we — always after devaluation we have an impact on expenditures, particularly lifting costs that of course in the different cycle of Argentina start to catch up again and I think you can assume that in a period of a year usually have a neutral effect. But the main impact on lifting cost reduction will come from production increase, as we have seen and demonstrated many times in the past. And we will start to see partially that impact in Q4. So, if you have to basically put an impact in lifting costs, you should look at production increase. That is what is going to drift the lifting cost down.
Operator: Thank you. I would now like to turn the call back over to Miguel Galuccio for closing remarks.
Miguel Galuccio: Thank you very much. It was a good quarter. I would like to continue thanking you for the support and your participation on this call. I’m looking forward to see you in Q4. Have a very good day.
Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.
