But I wouldn’t expect anything over — within the next 12 months, Dennis. So, right now, it’s a one-rig plan here. We’ll see how things play out as we get smarter, and really test what we want to do. And again, this is where I get excited about it, Dennis, is because, I — you think of our technical teams within this organization and what they were able to unlock in the Duvernay, and now parlay that into the Montney. I guess that’s a longwinded way of me saying that nothing here incremental in the next 12 months, but over that — when we get beyond that and we’re a little bit smarter, to look for us to start shifting some capital.
Dennis Fong: Great, thanks. And appreciate the color there, Craig. I’ll turn it back.
Craig Bryksa: Yes, okay. Thanks, Dennis.
Operator: We have time for one more question coming from Travis Wood from National Bank Financial. Please go ahead.
Travis Wood: Yes, thanks, and good morning. Wanted to talk about divestitures and with a few things in the fire, and just assuming that something closes across the portfolio here over the next several months, how are you thinking about the allocation of those proceeds, maybe just from a debt, variable, special, and base dividend perspective? But then also, as you look at opportunities and with future business opportunities, and you evaluate those, how are you ranking those future opportunities from a conventional oil or oil-sands, liquids-rich perspective as you look at future inventory expansion from a M&A perspective?
Craig Bryksa: Thanks, Travis. So, it’s Craig, I’ll take this one. And if Ken and Ryan or Shant want to add any color, feel free, [gents] (ph). So, Travis, obviously a lot of work in the last five years of what we’ve been doing as far as building out our portfolio. I can tell you how we sit today, we’re extremely excited about what we have, especially when you think of the short-cycle and the long-cycle pairing, like we’ve talked to you about quite a bit in the past in really two premium North American non-conventional resource plays, paired with our Saskatchewan waterflood asset. So, really love the balance in the portfolio. We love the weighting that we have in the portfolio, particularly when you think [indiscernible] around 75% liquids.
And at the same time, now on the backend of this transformation, we have a premium inventory of 15 years. So, we’re sitting in a really good spot, and feel really good about it. Your question as far as [dispos] (ph), we have talked in the past, but there is maybe some things that don’t necessarily fit with the build-out here in the long-term, and we’ll look to move off a piece that or a piece or two over time, and we’ll see how that plays out. And I would tell you, as happy as we are with how things have come together, and the balance sheet, and our balance sheet strength, and only 1.4 times debt-to-cash flow here, and that should be around 1 times at the end of this year, call it a CAD 75 deck. So, balance sheet is strong, Travis. But I would expect the proceeds of any of those sales to be earmarked for near-term debt reduction, so, to further strengthen that even more.
And then to your comment around what does the portfolio look like going forward, Travis, again, very happy with where we are. I would tell you our sandboxes are fairly well-defined right now. Don’t look for us to expand out of where we are between Kaybob and Montney, the Alberta Montney, and then into the Saskatchewan waterflood. I would say our sandbox is fairly well defined on that front. So, we’ll see how things play out; happy with how things are, absolutely in no rush to do anything on an A or a D front. We’ve spent, call it, the last five years really building this out, and extremely happy with where we are.
Travis Wood: Okay, that’s great color. Thanks for that. That’s all for me.
Craig Bryksa: Okay, thanks, Travis.
