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00:00:00 Jordan Yates
This episode of The Energy Pipeline is sponsored by Caterpillar Oil& Gas. Since the 1930s, Caterpillar has manufactured engines for drilling production, well service, and gas compression. With more than 2, 100 dealer locations worldwide, caterpillar offers customers a dedicated support team to assist with their premier power solutions.
00:00:26 Speaker 2
The Energy Pipeline is your lifeline to all things oil and gas, to drill down deep into the issues impacting our industry. From the frac site to the future of sustainability, hear more about industry issues, tools, and resources to streamline and modernize the future of oil and gas. Welcome to The Energy Pipeline.
00:00:47 Jordan Yates
Hello, everybody. Welcome back to another episode of the Energy Pipeline. It is me, your host, Jordan Yates. And today I'm here with Sam Sledge, the CEO of ProPetro Services. Sam, how are you doing today?
00:01:01 Sam Sledge
I'm great. Thanks for having me, and thanks for hosting us.
00:01:03 Jordan Yates
Yeah. Apparently, you're kind of a big deal.
00:01:05 Sam Sledge
00:01:05 Jordan Yates
Anytime we've said Sam Sledge is coming on, they're like, " What?" How does that feel?
00:01:11 Sam Sledge
No, I'm just one part of a big team. That's how I am.
00:01:15 Jordan Yates
Oh, my goodness. You're so polished, or I guess you probably really mean it. You seem sincere.
00:01:21 Sam Sledge
I do. We are big on the word team. We try and get the word employee out of our vocabulary, because I'm a big sports, athletics background, and I think we're playing a team sport.
00:01:35 Jordan Yates
That's awesome. Well, Sam, before this, I had hinted at the fact that your journey at ProPetro has been quite interesting. I mean, you started all the way in a technical position, and now you're the CEO. That's kind of a big deal. You have really climbed the ranks. Can you tell us about your journey at ProPetro?
00:01:51 Sam Sledge
Sure. Yeah. I think it makes sense to go all the way back to the beginning. I'm born and raised in Midland, Texas.
00:01:58 Jordan Yates
00:01:59 Sam Sledge
I'm third generation oil field services, so my family on my dad's side has been in West Texas in the oil field service business, mostly drilling before I got involved in frac, since the'50s and'60s.
00:02:14 Jordan Yates
00:02:15 Sam Sledge
Really. So, really grew up not knowing any different, hanging out at the yard with the welders, and the truck drivers, I mean, just being around the business, and the machinery was just really how I grew up. So, went to school in Waco at Baylor University, played a little football while I was there.
00:02:33 Jordan Yates
00:02:33 Sam Sledge
And always knew I wanted to make my way back to oil and gas, but didn't know which part of oil and gas I wanted to make my way back to, and ended up getting pulled into the service business in 2011 with ProPetro which is still my first job.
00:02:48 Jordan Yates
00:02:49 Sam Sledge
In 2011, and took a job to just learn the business from the ground up, and in a very entrepreneurial, fast- growing company. It ended up being really a great decision. I don't think I really knew what I was doing at the time, but learning a business like ProPetro from the ground up, and being able to put my hands on equipment, drive trucks, and learn how to do all that inside of a company that was growing extremely rapidly. And I just kept raising my hand for the next challenge, and the next role, and whatever the next thing we needed to figure out that we weren't doing. And I think you would find in our leadership team, my story's not necessarily unique. There's a bunch of people that joined the company around the same time that we're up for a challenge to help grow a company, and we just found ourselves year- over- year with more responsibility in a bigger company. We went public in 2017, and I found my way back to my business and finance roots, where my education is, and then began to grab onto more administrative parts of the businesses. So, we had a little bit of turnover in our leadership team in 2020, 2021, and I just kept raising my hand for the next challenge, and the board gave me the opportunity to take the next step, and lead at the next level, so it's been great.
00:04:09 Jordan Yates
Do you ever have to pinch yourself and be like, " I can't believe I actually made it this far," or does it feel natural?
00:04:15 Sam Sledge
That's an interesting question. I grew up in a very entrepreneurial family in maybe the most entrepreneurial part of the world, Midland, Texas. I mean, I think Silicon Valley, and Midland, Texas are probably the two most entrepreneurial places in the world. So, yes and no, because all I've ever known growing up, watching my family start and run businesses, watching my friends' families do the same thing, that I always just thought, that's what you did. And then you go to school, and you develop a new group of friends, and you find out, wow, that's not really what everybody does. So in a way, I always knew I wanted to do something entrepreneurial. I didn't know that this is what entrepreneurship would look like for me. We're a little over 2000 people right now, so to think that I was going to be 36- years- old, and running a business that had that many employees at this age was definitely not my plan. It was probably more on the smaller, more agile side of entrepreneurship than this. But it's been great. Look, I've got a great team. It's fun to come to work every day. There's plenty of challenges to address, so we're going to keep doing it.
00:05:31 Jordan Yates
So, this isn't a question I had prepped, but hearing your journey, I'm curious. Did you ever read any books that made you feel like this is motivating me, helping me with my entrepreneurial goals? Was there anything that ever inspired you in this journey?
00:05:46 Sam Sledge
Yeah. I don't know from an entrepreneurship standpoint, but I think the older I get, the more of a reader I've become. If I could go back, and change one thing about maybe my more formative years in high school and college, I would've probably read a little bit more. But I think less so about entrepreneurship, and more just about self- awareness, and leadership books like Stephen Covey's Seven Habits have been huge.
00:06:09 Jordan Yates
That is literally my favorite book. Yeah.
00:06:11 Sam Sledge
I've read it almost four times.
00:06:13 Jordan Yates
00:06:13 Sam Sledge
Maybe three and a half times. Probably, due to do that one again. And another one of my more recent favorites is Dare to Lead by Brene Brown. Just developing that kind of leadership awareness has been huge, and there's a list of others behind that, but those are definitely two of my favorites.
00:06:31 Jordan Yates
Yeah. No, Habit 2 was definitely my favorite. And then I would say the only thing I struggle with is when I read any sort of" self- help books," I become obnoxious, and I just start telling everybody what they can do better in life, and I become a bit unhinged. But I think as you grow, and you seem to have digested them a little more maturely than I have, so I love that for you.
00:06:52 Sam Sledge
But no, I can relate, and I think everybody in my family will probably laugh when they hear this, because they've probably say the same thing about me.
00:06:59 Jordan Yates
Hey, well, you're the CEO now, so you did something right. Okay. But I want to move on to ProPetro. It is definitely a prominent name in the industry. I think clearly a lot of people know who you are. But can you give us a bit more of an overview of the company's roles and contributions to the Permian Basin?
00:07:17 Sam Sledge
Sure. Today, we are about the fifth- largest pressure pumper in North America. We're probably up a couple more spots than that, as it pertains to the Permian Basin here. So, our competitors are companies like Halliburton, Liberty, NexTier, ProFrac. I think what's really unique about ProPetro is that we're an 18- year- old service company. Rare, very rare, right? Whether M&A, whether bankruptcies, the volatility in our part of the industry is quite something to weather over that many years. So, we're really proud to have a really resilient business model that's very operational- centric, and very customer- centric, because we're a service company, and that's what we're here to do is serve our customers with quality operations. And today, we're operating about 1. 4 million horsepower, most of which is Caterpillar.
00:08:13 Jordan Yates
Oh, Cat. Our Sponsor of show though.
00:08:15 Sam Sledge
By the way, we can talk a little bit about that.
00:08:17 Jordan Yates
00:08:19 Sam Sledge
And that is, in today's terms, about 15 frac crews. We also have a top- five cementing business in the Permian Basin, and probably a top three wireline business in the Permian Basin as well. So frac, cement, wireline, that's our focus right now. Our legacy business has operated in a couple other service lines, and we've migrated to clean up our offering to a more focused bundle of services inside of those three that we think we can be best-in-class on.
00:08:50 Jordan Yates
That's nice. Because I know service companies, sometimes, they get the itch, oh, I can make more money doing this and adding this, but it's nice when you are aware enough that if you can keep your capabilities focused, while not counting out the option to expand at some point. But it's nice that you guys are so aware of that.
00:09:06 Sam Sledge
Yeah. This focus from a service line standpoint is a big deal for us, and geographic focus has been a really big deal for us. We have one small cementing operation, Vernal, Utah. Shout out to the Vernal guys. They do awesome, but they're literally less than 1% of our revenue, and so 99% and change of our revenues coming from within the 120 miles of where we're sitting right now.
00:09:31 Jordan Yates
00:09:32 Sam Sledge
We found that that geographic focus has really been a competitive advantage for us. We call ourselves the home team a lot. We're the boots on the ground solving problems, taking things head- on out here in the Permian.
00:09:47 Jordan Yates
Thank goodness, there's plenty of business here.
00:09:48 Sam Sledge
00:09:49 Jordan Yates
Yeah. Keep you busy.
00:09:50 Sam Sledge
That's right. We'll be here for a while.
00:09:52 Jordan Yates
Absolutely. And as many people are aware, and I'm sure you're aware, there's been many changes in the Permian Basin throughout the years, albeit technology, or sort of just the morale. Can you highlight what you've noticed in your tenure at ProPetro?
00:10:06 Sam Sledge
I think we're in the midst of... Well, there's been a ton of changes, but one of my favorite things to talk about is just what I call the general industrialization of our industry, and really the service sector more than our industry, because the service sector, we're the people, and the equipment, and the businesses that are in the front lines of that industrialization. So, what does that mean? Well, it's more wells per pad, it's sourcing fuel materials closer to the well site, it's streamlining things like logistics. And there's a lot of opportunity in that arena to think that we're the most productive natural resource on this side of the world, yet we ship all of the oil and gas molecules out of the basin to be refined, just to bring them back and use them again. And I think a lot of companies and people are starting to solve for that. And I think the opportunity that that's going to create for businesses like ProPetro, for businesses like Caterpillar, but really for national security, and energy reliability on this side of the world is going to be huge. So, we're really excited to be doing some things in that more industrial manufacturing type of transition to really mature our industry, and make it much more resilient.
00:11:29 Jordan Yates
Yeah. No, I think it's interesting how you said you guys in the past typically are sending your oil and your gas, you get it refined, you bring it back, use it as fuel. And something we've had a few conversations about over the past couple of days is actually utilizing field gas, and putting it back into the DGB engines, and I personally think that's cool. I didn't realize that was the thing before, because you can only know so much about every part of the industry. Is that something that you guys are doing?
00:11:54 Sam Sledge
00:11:54 Jordan Yates
00:11:54 Sam Sledge
Yeah. We do that in very close partnership with our customers, because almost 100% of the time, you're using less conditioned field gas that is literally coming from a well site just down the road. And that's a great example of industrializing, it's the fuel is here, let's use it. And I would say on almost five of our 15 crews today are being fuel- gas powered in some way.
00:12:22 Jordan Yates
00:12:24 Sam Sledge
Two years ago that was zero for us, so we've made a ton of progress in that arena. It lowers our cost to operate, it lowers our customers' cost to operate, and that just plays to that opportunity that I talked about, a minute ago, to lower the cost to produce a molecule or a barrel, and increase the opportunity for oil and gas on the global scale.
00:12:44 Jordan Yates
Absolutely. And so when I hear examples like that, I'm thinking you're saving money, but you're also being more environmentally efficient. Can you touch on the other things you guys are doing to help be more sustainable in this environment?
00:12:57 Sam Sledge
Yeah. For us, I mean, we are not shy about it. We're capitalists. We run a for- profit business, so-
00:13:03 Jordan Yates
00:13:03 Sam Sledge
...the numbers, and the profit definitely lead the way for us. That said, we live here, and we want to take care of our community. So, when there's opportunities to do both of those things together, to us, that's what sustainability is.
00:13:16 Jordan Yates
00:13:18 Sam Sledge
I think things like ESG and sustainability have been extremely misconstrued in the last few years. Sustainability to us is building a business that's going to go another 18 years just like we have from now. And that is also going to be a good steward of the community, the environment, the people. There's a lot of cool things going on in Midland and Odessa right now as it pertains to schools, hospitals, and infrastructure, and being able to steward a business through a community that needs development in a lot of those things. That's also in our definition of sustainability. So, the lower cost we can provide at a higher quality, that's going to continue to allow us to do more of those things.
00:14:00 Jordan Yates
Yeah. I think, a lot of times, we get really caught up in the metrics of how much carbon are you emitting, and how much money have you spent, how much money have you made? And I like that you're from here, and that you can actually look at it so holistically, and think this is part of our community. This isn't just some people come here, they work their two weeks on, they leave for their two weeks off. But you are very integrated in the community, and I feel like that gives you better insights as a CEO leading a company.
00:14:26 Sam Sledge
No doubt about it. That goes to us calling ourselves the home team out here. So, if we can work alongside customers at the well site, and we can also work alongside customers to do things like build new schools, and fund new hospitals, initiatives like that, that really, really strengthens the service company E& P bond, because like you said, we can create more holistic community wins, and it's really fun to be here at ground zero to be able to see some of that happen. We're not just shipping our money across the state, across the country. We're enabling our workforce to actually help with those things.
00:15:09 Jordan Yates
Yeah, that's amazing. So I love the wholesome side, but let's get into challenges. What challenges have you noticed lately, rather it is at ProPetro specifically, what you've been facing, or some industry- wide challenges you've noticed? Yeah,
00:15:23 Sam Sledge
Yeah. I think our challenge at ProPetro specifically, and I'd like to think many if not almost all of the companies probably here at the oil show today are struggling a bit to adapt to that industrialization that I talked about earlier, especially in the Permian Basin, the entrepreneurship that's existed out here. We've been really, really good, and I say we collectively, at growing things. Growth is not the goal anymore, to that broader sustainability comment. It's predictability, it's consistency, it's low cost, high quality. And for ProPetro, we were a very aggressive growth company, 150 employees to almost 2, 500 employees pre- COVID-
00:16:12 Jordan Yates
00:16:13 Sam Sledge
...grew hand over fist every year for almost 10 years. We got really, really good at growing, and if we're challenged to do so again, I think we'll continue to execute on that. But today, it's not, hey, staff up and crew up, and put that next team out to serve a new customer. It is what can we do to optimize what we're doing today? How can we get every extra hour out of an engine, out of a power end, out of a fluid end? I think we underestimated the culture shift that would take, definitely from a mindset standpoint, from we're the people that grow to we're the people that operate optimally. And talking to friends and other businesses around the community, I think we're all, on the service side, struggling with that a bit. I think we're making massive momentum, and we've seen some really great things happen in the last couple of years, and we'll continue to make some improvements.
00:17:12 Jordan Yates
It's crazy on the service side, because my first job ever in oil and gas was for a service company, and they did facilities, and they would do modular facilities, and everything was so fast and hard, and we needed it yesterday, and we were looking on Craigslist for things that we could find, and ship to the customer, because we said we had it, but we didn't. And so it was like that mentality of just like, we will pay anything to get this right now. And then I switched to manufacturing, and it's a bit slower, you think years out. And I've noticed this sort of convergence between the two, where it is starting to like, " Hey, let's think about the future differently. Now, we know we can make the money. We know we can evolve, but let's slow down and actually think things through," like you said, and have that wholesome sustainability mindset.
00:17:55 Sam Sledge
00:17:56 Jordan Yates
On the flip side though, we talked about challenges. What about opportunities? What do you see evolving in the future, coming in, whether it's something you legitimately think is going to happen, or something you hope to happen?
00:18:08 Sam Sledge
I think, for us specifically, first thing that comes to mind is continuing to transition our asset base into things that burn more natural gas. That is top of the list, right now. We're doing that through tier- four dual- fuel, and electric, and by this time next year, will probably be more than two thirds natural gas burning across, more than probably 15 or a little bit more than 15 frac fleets. So, we were a bit late to the party on that, because we were really, back to my comments about sustainability, we were skeptical in the economics. These things like a tier- four dual- fuel engine, they're a little bit more expensive than the traditional diesel tier- two, but we saw that change in really late, in 2020 and 2021, and that's when we began very aggressively transitioning our fleet, and we will continue to do so at some rate. We're operating seven Caterpillar tier- four dual- fuel fleets today. We are about to start to take delivery of our second e- fleet here in November, December, and we have two more e- fleets coming in very first part of next year. So, that's a massive opportunity for us to continue to evolve our asset base to be as competitive as possible, because the E& P sector is asking of that. So, there's quite a divergence or bifurcation happening in the pressure pumping market, of companies that are doing that like we are, and companies that aren't. So, that's probably the biggest opportunity that comes to mind. The other thing is probably continuing to find ways to industrialize, and do more with less, and shorten supply chains and value chains, and be more efficient internally really is probably what I think of next.
00:19:59 Jordan Yates
Yeah. I've heard that some companies are still holding onto their old engines and assets, and they're using them, but they're just adding on these dual- fuel ones, and the e- fracs, like all of that. Is that true for you guys, or are you making the shift fully, and letting go of your old equipment?
00:20:18 Sam Sledge
We've retired quite a bit of equipment the last couple of years. A lot of that is just because it's reached its useful life. But more specifically, around our dual- fuel conversion program, we've chosen to not put on aftermarket kits on any tier- two stuff, and we've tried to develop a more uniform fleet of new Caterpillar tier- four dual- fuel engines. And we've found that that has helped us quite a bit from just an operational consistency, and continuity standpoint, trying to push the envelope on gas blending, and things like that, where we can have what we call a DGB strike team that is bouncing around, helping all of our crews maximize diesel displacement in tandem with our Caterpillar partners here on the ground. It's very helpful, for every location they go to basically looks the exact same. So, it's really just managing the people that are operating that equipment, not having to manage through any additional mechanical issues that we could, or couldn't create on our own. So, it's a very uniform... We've been very, really since the onset, interested in that Southwest uniformity model. It's harder to maintain that inside of an equipment transition, like we're seeing now, to more natural gas burning equipment. But if you can make just your dual- fuel operation uniform, we found that very helpful, from an operational standpoint.
00:21:49 Jordan Yates
Yeah. And this may be a silly question, but how do you retire an engine? Where does it go? They're so big, you can't just throw it away. Do you know what happens with them after?
00:22:00 Sam Sledge
Yeah. So, on the tier- two side, a lot of the engines that we have retired here in the last few years, I think Caterpillar has bought the cores back from us. Whether they recondition them, or melt them down for the steel, I'm not sure. But I think one thing that's going on in our industry, from an equipment retirement standpoint, that I think is really healthy is literally letting old equipment that's reached its useful life just die, period, cut up scrap, because one of the things that has created more volatility in our sector is that we've probably held on to too much equipment for too long.
00:22:39 Jordan Yates
Yeah. Hard time letting go.
00:22:40 Sam Sledge
And then when things cycle up, we build too much too fast. And then you have this just whipsaw of too much equipment, and how that affects the cycles is something that ProPetro is trying to fix, and I think a lot of other players in our sector are trying to fix as well.
00:22:56 Jordan Yates
I feel like it's a good thing, you had a financial background in school going into this. Do you feel like it prepared you for that cyclical nature of watching these trends, or is that something that you just did not understand until you had more experience?
00:23:08 Sam Sledge
The cyclicality, no way. I don't think, and I still don't feel that prepared for it. I guess, I've seen two or three pretty good down cycles in my almost 12 years. 12 years? Yeah, 12 years. And every cycle is different than the last. So, I don't know if the.... Hopefully, with a lot of the things, we're doing, and our customers are doing, we're pulling some of that cyclicality, and volatility out of the business to that industrialization I've mentioned. But you'll never get it all out, and every new cycle will be different from the last cycle. Yeah.
00:23:48 Jordan Yates
Yeah. It's interesting because, especially, we had some episodes where we talked about circular economy, and the Caterpillar, how they buy back their engines, and whether they're refurbishing them, or melting them down, whatever they do, that it is nice that we have that sort of focus on the circularity, but you can only take a linear economy so far into circularity, before it just doesn't make sense to make everything circular. But-
00:24:11 Sam Sledge
00:24:12 Jordan Yates
...it's nice that the leaders like you are thinking of these things, and we're not just going hard and fast in how do we make the most money right now, and forget about later.
00:24:20 Sam Sledge
00:24:21 Jordan Yates
But of course, right now, with the political climate, and everything going on, everyone's always like, " How are you doing more green energy?" What is more green? What is cleaner? Do you guys have a metric, or a standard that you strive for, that you consider green? Or how do you guys measure your green goals? I guess, it's open- ended.
00:24:42 Sam Sledge
Yeah. And I would say our customers, our upstream E& P partners get a little bit more pressure on those types of things than we do. So, we want to be fast followers as it pertains to technology in our industry, but as it pertains to our customer's needs around that, and to really partner with them and say, " What's the goal here?" And lately in part of that goal, it has been things like lower emissions. But we're thankful to have a customer base here that's interested in doing that with the right economics, that I mentioned earlier. So, our goals broadly are just to continue to transition to more natural gas- burning equipment. It's a cleaner molecule that's more readily available closer to the well sites, and we think that that, from an environmental stewardship standpoint, is probably the best thing that we can be doing right now.
00:25:41 Jordan Yates
Absolutely. And I feel like we've touched on a lot of industry- wide challenges, and things that we've seen happening with you guys at ProPetro, and the industry in general, but I'm curious, as you, as Sam, as a leader of a company, what challenges do you face personally?
00:25:57 Sam Sledge
Oh, gosh. Prioritizing, every day. Prioritizing, and managing time. I'm a pretty confident person. I work with a pretty confident team, and I think when we're doing that well, there's really not much that can hold us back. That said, and this has been a major learning experience, I've been in the CEO seat for two years now, is understanding how to use my influence inside of a big, complex team to push that mindset change, that we talked about earlier, to away from growth, and more to optimization. That's been a quite nuanced, complex effort, I guess, that I think changes every day, because your team's changing all the time. So, that's really heavy on me, when I walk into the office, or visit operations on a daily basis, is how can I conduct myself? What words can I use to help my team adapt to what this new normal is?
00:27:01 Jordan Yates
Yeah. I mean, you carry a lot of weight being at the top of a company, where it's like the things you say, they're going to be taken heavily.
00:27:08 Sam Sledge
00:27:09 Jordan Yates
You are an important person.
00:27:13 Sam Sledge
More heavily than I thought they would be is what I'm learning. Yeah.
00:27:14 Jordan Yates
Ever have to learn that the hard way?
00:27:14 Sam Sledge
Yeah. Oh, yeah, for sure. For sure.
00:27:16 Jordan Yates
Those lessons always stick the best in our mind though.
00:27:19 Sam Sledge
Yeah. Yeah, definitely.
00:27:21 Jordan Yates
Well, I've loved this interview so far, but one more question I want to ask to wrap it up, because this question is near and dear to my heart. But a lot of young people around my age, and younger that are coming out of college maybe aren't as excited about the oil and gas industry. What would you say to them of words of encouragement or like, " Hey, come work in this industry." What do you have to say to the young people?
00:27:45 Sam Sledge
Yeah. I had a chance to talk to a group of college petroleum engineering students not too long ago, and I think the main word there is set your motion aside, and study the facts about how we power our world.
00:28:06 Jordan Yates
00:28:07 Sam Sledge
When you take a sober approach to just what the energy looks like across the world, combined with how many people are living without adequate energy, selfishly as an oil and gas guy, it's pretty exciting, because I'm, like I said, 36 years old. Hopefully, I got a few more decades in me. There's a lot of work to do in this industry. Overall, energy demand continues to grow year- over- year, and the only way we'll be able to keep up will be with a reliable, efficient, economic oil and gas sector. And on top of that, I don't think you'll find a more smart, diverse group of people, and skill sets in any industry than the oil and gas industry. For whatever you want to study in college, there's something for you to do in the oil and gas industry, and there's just a ton of opportunity. And I think, lastly, is for people that want to do their best and succeed, because we have been an industry, recently, that's a bit starved for human capital. It's creating more opportunity for those people that want to come alongside businesses like ProPetro, and help us. So, I would think if you don't have, as a young person, oil and gas on your list, I think you need to consider it. I'm a bit of an example of what is possible, to join a growing, budding company in an industry that's going to be here for decades to come. And if you want to work hard, and keep raising your hand, and take on another challenge, the sky's the limit, oil and gas industry.
00:29:51 Jordan Yates
Well said. I'm feeling inspired. I'm going to just go home-
00:29:54 Sam Sledge
00:29:55 Jordan Yates
...and work real hard. Hit me up in 10 years, see if I'm a CEO.
00:29:59 Sam Sledge
Cool. Right on.
00:30:00 Jordan Yates
I don't know. I feel like management, that's a lot. I'd have to read a lot more books first.
00:30:05 Sam Sledge
00:30:05 Jordan Yates
But guys, thank you so much for listening to another episode of The Energy Pipeline. Sam, thank you so much for coming on. This was great. We will link Sam below, of his LinkedIn, and ProPetro's website, and all that, so you guys can check them out. Yeah. Well, see you guys next week. Bye.
00:30:23 Speaker 2
Come back next week for another episode of The Energy Pipeline, a production of the Oil& Gas Global Network. To learn more, go to oggn. com.