Transcript:
Conway Gittens: Helium, natural gas – both are part of the global energy supply. So what kind of relationship, I’m wondering, do you expect between the US and say, OPEC over the next four years.
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Will Gray: That’s a great question. I think we’ve, well we get a crystal ball that we’ve seen President Trump obviously with a prior administration work with OPEC pretty diligently to get pricing under control. I think right now since the Trump administration previously, I think there’s been a really solid shift from the shale drillers to really understand that, hey, let’s drill out of cash flow. Let’s not take on additional leverage. A lot of the tier one acreage within the Permian Basin is it’s getting down. So then we have to go to what they call tier two acreage. And so it’s typically tier-two acreage needs a little bit of a higher price to justify the economics of drilling those wells. So I think obviously there’s going to be a fine balance of the Trump administration working with OPEC, with China specifically, with India, some of the larger emerging markets that rely on hydrocarbons. At the end of the day, that’s why our – that’s why the world is where we’re at. It’s cheap energy. And if we can do it sustainably and do it responsibly, I mean that’s what we’re tasked to do. And I think the administration coming in is just going to focus on that and make it more efficient, more dynamic.
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