Christopher Baker: Great question. And it’s definitely in the news, and we see people setting records. We continue to see operators experiment with a whole host of lateral lengths and configurations. And while there’s discussions and we’re in discussions with operators on four milers, we believe that most operators are building their business to be really in manufacturing mode to drive efficiencies and find ways to improve ultimate recoveries of oil and gas in their wellbores. And in certain basins, the reality of the situation is four milers create incremental risk for operators where they would prefer other means to drive recoveries. So whether that lands all two, three or four milers, KLX is prepared to adapt and assist our clients with successful drilling and completion programs on complex wells.
We recently were instrumental in the completion of a highly technical horseshoe well or actually two highly technical horseshoe wells in the Permian, which led to impressive results for that client. And so while depth records are nice, the reality is we’re focused on serving our clients with consistent execution of highly technical wells while maximizing margins for our stakeholders over setting link records. That being said, look, lastly, KLX’s diversified suite of products and services really allows us to address all of these distances as well as configurations.
Ken Dennard: We also got one talking about the outlook based on early customer guidance. It appears 2024 spending would be flat to slightly up year-to-year. If you want to comment on that?
Christopher Baker: Sure. I think — look, there’s been significant shape to 2023, just like there was in 2022 and we would expect some shape to ’24 similar to Steve’s question earlier in the call, just based off the constructive nature and forward strip on the natural gas side. So we would expect — and from what we’re hearing thus far, is slightly — is flat to slightly up spending, which should ultimately lead to improved year-over-year results for KLX. And I think that’s due to 4 specific points. We’ve got intrinsic upside in our incremental asset base, we have already talked about some of the high points of frac contract base loading, that service line as well as the introduction of additional Whisper series electric wireline units that we think we can deploy at attractive rates. And then lastly, further penetration of all the technologies we’ve talked about thus far, including our Gen 3 now rebranded dissolvable plug, the PhantM — KLX PhantM Dissolvable.
Ken Dennard: Anything you want to add, Keefer before we — looks like we’re done with e-mail questions and people online — on the call.
Keefer Lehner: Yes. And just to follow up on the plug side. I think certainly, as you see this trend towards longer laterals, that’s clearly going to drive a need for increased consumables per wellbore which ultimately is going to be a benefit for KLX suite of products and certainly our plugs business. As Chris mentioned, we announced the launch of our latest gen PhantM Plug. We’ve seen tremendous market response so far in the third quarter. So we worked with numerous leading operators across multiple basins where we’ve seen strong market adoption of our new plug technology. Customer feedback has been really strong to date. We did mention in the prepared remarks that our dissolvable plug sales were up north of 500% quarter-over-quarter. And based on October results, those strong plug sales have continued into Q4 and we would expect this trend to continue as we work into 2024 as well.
Christopher Baker: Yes, absolutely.
Ken Dennard: So that’s it. Final comments, Chris?
Christopher Baker: Thank you once again for joining us on the call today and your interest in KLX Energy Services. We look forward to speaking with you again next quarter.
Ken Dennard: Thanks, everyone.
Operator: Ladies and gentlemen, thank you for your participation. This does concludes today’s teleconference. You may disconnect your lines and have a wonderful day.
