Jack McClendon

So costs in general are up, I would say, about 25% to 30% for my business really over the last five years.

And as I said, a lot of that is power.

A lot of that is chemicals.

The biggest chunk of that is people.

You know, people costs have kind of gone up across the industry.

Capital costs, tariffs obviously have had a material impact on the price of steel and the price of aluminum.

Those have largely gone up.

What I will tell you though is recently, and this is kind of a couple of months,

There has been some slack in those markets.

And a big part of that is kind of due to what you identified with the Baker Hughes rig count, you know, with prices kind of hovering in the 50s and 60s with those rising costs.

The industry is just not as profitable as it once was at 50 or 60.

And so, you know, there was really starting to be some slack in the rig market, some slack in the frack fleet market.

And, you know, quite frankly, all of that leads to a little bit of pricing deflation.

And so, yeah.

Generally speaking, I would say costs are up across the board 20% to 30%, even though recently, especially on the capital side, you've seen a little bit of a decrease.

And that is largely due to the fact that the price has been depressed.

And the industry was just not as profitable as it once was.

And the other thing I'll mention as well, too, and this is largely due to efforts of companies like Kimmerich.

And when I say companies, I mean investors.

You know, one of the big reasons you had such prolific shale growth, especially in the 2010s, was compensation.