Sean Woolverton: Yes. No, no. Appreciate the follow-up on it. Yes, the 15:1 is kind of the probably lose 13 to 17, the returns become pretty similar. So in a 4 and 60, 65 dollar environment, we have one rig running in gas, one rig running in oil. And that’s our current kind of view once you get into mid-’24 going into mid-’25 with the contango and the gas curve and the oil curve being backwardated. So that’s kind of how we’re modeling things out, one rig in both areas by mid-’24. And then if our view on gas plays out in ’25, probably might anticipate 2 rigs running in the gas window in ’25. But what’s great is we have an inventory that can go either way. And what we’ve always said and love about the Eagle Ford, and we demonstrated it at the end of ’22, is we can turn on a dime.
I mean within 2 weeks, we were pulling rigs out into oil, and a lot of our peers just can’t do that, right? They’re in only gas and, unfortunately, continue to drill into a low price curve, which isn’t helpful to pricing dynamics. But we think our strategy of being able to shift is really demonstrating itself here.
Charles Meade: Got it. And yes, it’s certainly an advantage to be able to do that. I want to push a little bit further on natural gas activity. So you guys have these 8 DUCs in Webb County and makes all the sense in the world that you’d wait to complete those given the contango in the natural gas curve. But right now — I guess what I’m asking, is it a fair inference that you’re going to wait for something close to $4, like a $4 12-month average to complete those? Because they’re not in your ’23 CapEx plans as far as I understand. And let’s, call it, like a $3.50 kind of look as we look forward. So is it — should we be thinking about like $3.75 or $4 for you guys to go back and finish the work there in ?
Sean Woolverton: Yes, that’s kind of in that ballpark with — that we’ve had in the back of our minds. And we’d also look at operationally, if a window — if we see gas prices starting to get more stable late in the year, and window opening up on our frac spread that primarily serves the 2 rigs, but sometimes it’s so efficient that windows present themselves. We might slide down and kick those 2 pads out, which would really our volumes end of year. And maybe we see a strong winter next year, pickup in the LNG exports as Freeport comes back online, and hopefully, more response from gas players as a whole to delve back on supply. So we’re going to be nimble, but I think $3.50, $4 and the earliest probably would be late in the year that we would do something.
Operator: Your next question is from Donovan Schafer with Northland Capital Markets.
Donovan Schafer: I have — the first one I want to ask — I thought it was interesting idea about taking the 2022 pricing reserve report as sort of a data point for what things could look like in 2024 or 2025 pricing environment. So my question would be, if we kind of go through that thought experience, what other kinds of adjustments maybe would there need to be gives us a useful data point for pricing? But clearly, based on guidance, your expectations, you have growth and — production growth in 2023, there could be some changes in production mix versus oil versus gas. So just curious what the big things are. Maybe would need to adjust for or account for if we did take something like this as a rough approximation for what kind of valuation could be appropriate in the 2024, 2025 time frame?
