Big Digital Energy

0:00 Hey, everybody. Welcome to Collide. We're back now. I'm a little tired from the live episode last week. You know, that was a little bit of a workout. I liked it. It was, uh, it was in, in

0:16 critical review. It was, it put some guard, guardrails up on my tendency to, my tendency to sidetrack a little bit, thus my nickname. You know, I do a, I do a little bit of when I were doing

0:31 BDE with, you know, I screw it, Jacob can cut that out, you know, and to, to, to my credit, as I like to, as I like to do periodically, Jacob really hasn't edited me out much. I, in fact,

0:45 I don't think he's ever taken anything out, but I always feel like I have that safety net. So last week was a little bit of a tight wire. So anyway, we're going, we're going to do more. We will

0:58 do more. We will do more. All right, Mark, we missed a story last week 'cause basically we're pushing up against the hour and I had to pee like a race horse too. So lay that story on us. Exxon

1:00 announced last week that they had entered into an exploration agreement, 100 owned and operated by Exxon with Trinidad and Tobago or Tobago, I always think it's a Seinfeld episode who hit the

1:00 marathon runner from Trinidad. He's from Trinidad and Tobago. Yeah, yeah, he's Trinidadian and Tobogan. Anyway, so 2700

1:39 square miles, about 120 miles offshore, I believe, and 6500 plus feet of water. And I think they have a 45 million dollar 3D seismic work program starting, they say months And six, within so,

1:57 you know, kind of what does this mean? I think it's a very strong signal and Exxon has been in Trinidad before. I think they left in 2003 after some lack of success on exploration, but they've

2:13 learned a lot in Staybrook and Guyana and this is clearly something that they're looking to mirror. They've learned a lot

2:23 geologically. They've learned a lot certainly operationally and so again, it's, I don't know if it's fair to call it rank exploration. I guess it is if you're shooting a full 3D program. But

2:36 it's a pretty encouraging sign for the Western Hemisphere that we're looking to extend a major conventional basin that kind of shows the cards of what Exxon and others are thinking about the longer

2:53 term in their portfolio expansion and growth.

2:60 Stay tuned. Venezuela is getting surrounded by

3:06 progress on growing reserves and production. And so I just think this is a very strong signal. Well, you know that song, Everything Old

3:20 is New Again. This is where we should be as an industry. The major should be out doing big And I won't go so far as to call it rank exploration, but they should be doing, in effect, exploration,

3:35 big huge projects, big huge fields. You know, every five to ten years in my career, it's always been, we've found the last great oil field, and of course there's always more to go look for. And

3:52 the majors ought to be doing that. Independence ought to be onshore America, operating it way more efficiently. And the private equity back startups ought to be cutting edge in terms of developing

4:06 new frags, technology type stuff. And that's just what we need for humanity to flourish. So I'm all for this. And if you look at the, just the population, the demographics of nations like, it's

4:22 a twin nation trying to doubt in Tobago And what's happened in Guyana with their explosive growth and GDP. And their president, President Ollie has done a really good job of leading really the

4:36 distribution of that newfound wealth. And so the potential for Trinidad, it's only 14 million people in the event of a major set of discoveries. Not saying it's going to be stay broke. call that

4:54 was we haven't drilled the first well, but you know these these are obviously nation and life-changing things for people who have historically lived in some of the poorer if not the poorest nations

5:06 in the western hemisphere. So a lot a lot of positives here and I think it you know it speaks to the balance program where we have majors who are certainly big players in US unconventional now but in

5:23 terms of moving the needle over the next decade or two they've got to you know they've got to be pursuing this pillar

5:34 in the program in terms of deep water conventional. Two important points here back to back BDE episodes reporting on exploration slash discoveries. So that's a first, I think. And then number two,

5:51 more importantly, 'cause this is

5:53 gonna hit on two things you and I love. One of my dear friends on the planet is Tennille Amore. She's a musician, rapper from Trinidad. She's really cool. I met her when I was at the UN. Her

6:10 songI Am a Girl was chosen by the UN to be the theme song for women empowerment in all their efforts worldwide Teneal's one of the coolest people on the planet, and she has been trying to get me to

6:24 come down to Trinidad. And it just, we haven't been able to make it work. So Mark, you're gonna have to come. We'll go hang out with Teneal down on her home island. We'll see a rap music show or

6:36 two and talk some oil and gas. I'm all about it. Let's go. Let's do it. You wouldn't take me to Australia, so I'll take Trinidad. That, fair enough, fair enough. but after you get your plane

6:52 back. Yes, we need the plane back. Everybody buy, collide software. In other conventional news. Let's do it. It's a company, you know, a little bit about Presidio out of Fort Worth announced

7:08 that they were going public via the SPAC route and

7:16 no timeline, but

7:20 this is with EQV, Ventures Acquisition Court, SPAC entity, they've, I think successfully raised an85 million pipe, knowing a little bit of something about SPAC,

7:37 despacking, pre-disbacking pipes

7:41 and the redemption that can take place as part of that whole process. Um, I would suspect that these guys have got, you know, plenty of backstop in the event that we see, um, you know, a high

7:56 level of redemption. I've, I've seen redemptions by the, this backholders of

8:02 over 90 and, and some of these energy deals. Um, and so you got to have the capital to close. You know, there's some other mechanics that go on. I just thought it was a, you know, something

8:14 that caught my eye and that you've got a conventional. Yield focus, cost optimizer in Presidio. I think they operate something on the order of 2000 wells across mostly the mid continent. It's all

8:29 about cost optimization and free cash flow. Um, so at SPAC, um, at the redemption price of10, which they all feature, you've got about what they, what they project to be like a 13 and a half

8:46 percent dividend yield So. Little color on Presidio. Yeah, so little color on Presidio, Chris Hammock and Will Ulrich are the two principals there. Chris Hammock, I met him when he was, I

9:03 believe he was 26 years old. And even back then, he was a stud. He was one of the early horizontal drillers. He was at a company called Stroud that Pat Noise was CEO of and they just crushed it

9:19 And then Pat went on to form Grenadier, multiple Grenadiers, and I backed him a couple of times at Cane and tried to get Chris to come along but Chris was gonna go run his own show. Have met Will

9:34 kind of subsequently. Good dudes, I like 'em. Here's the thing we need to talk about when we're talking about SPACs.

9:41 A traditional IPO, you draft an S1. And you go out on the road show and you talk about things. And the wink, wink, nod, nod was you can't talk about forecasted stuff, forward looking statements.

9:58 But the investment banks that were leading the IPO had research analysts who were gonna publish reports. And so kind of on the IPO thing, you'd say, let's say Goldman Sachs, just picking our

10:14 research analysts forecasting3 a cash flow, five bucks a net income or two bucks a net income, whatever per share, you would kind of have that discussion. And it was a little bit of an awkward

10:30 discussion. With a SPAC, you're not filing an S1, you're filing an S4, which is a

10:37 merger document. And so under merger documents, you can go in talk about forward forecasts. And so a lot of the reasons these SPACs were popping up and companies wanted to go public via a SPAC and

10:54 investors actually liked it is, they wanted to see forward looking numbers. So they could beat it up and analyze it. And so

11:06 I don't know if that plays a part here in any way, shape or form. I would think an oil and gas company, a yield vehicle, forward looking projections wouldn't really be important vis-a-vis like a

11:21 high tech startup that's gonna have hockey stick type growth and all. But that's just one of the little backdrops, nuance things about SPACs that I don't think people, people fully appreciate it.

11:35 Yeah, I mean, they were very explosive. Look, this is mature PDP, it's conventional, It's a couple of thousand wells. It's acquire and optimize. incrementally. And, you know, they did

11:51 explicitly point out that we've got an 8 based decline rate, which is hugely advantage relative to the model that they have pursued and are pursuing, which is very yield oriented. So I think that,

12:05 you know, that ambiguity that you typically get in and in us one process and disconnect between the research analyst and investment bankers, you can't talk about very directly and very specifically

12:17 about forward looking projections. It's, as you said, it's not as, it's not as important here. The thing I, the thing I scratch my head about is just knowing a little bit how kind of

12:29 post-dispacking things trade. You've got a sector that I would say is weak to squishy right now, meaning the smaller Cappie and Pease. You,

12:42 you, You have some institutions that can't own it just because of the size. I think it's 660 million or thereabouts. And then you do have a kind of a public float issue typically for certainly

12:58 something of this size, but I'm not saying that that's going to be the case. It's just my historical perspective on a fairly limited direct experience with

13:08 some spec processes. I have no insight here I haven't talked to Will and Chris, tried to sell them software about six months ago and had dinner with them. Actually, they're pretty sophisticated.

13:21 I will give them credit on this in terms of systems and technology. They're pretty sophisticated there.

13:31 The one thing I will say in these de-spackings is normally

13:36 you have a company that's SPAC the with merging.

13:40 and the company needs X amount of cash. So if Chuck and Mark have started a company and we're merging with the SPAC, we want 500 million of cash and 500 million of stock. And if they don't show up

13:53 with the 500 million of cash, the deal's dead and we move on, I don't know if that's the case here. I mean, if they go out and they get a lot of redemptions, I don't know if Presidio will just

14:06 say, we'll take all cash and that won't help the float issue, but if I'm Presidio to some degree, if I can get public, then I have an acquisition currency, and that's helpful in a lot of

14:19 transactions, 'cause you can be tax advantaged on, you know, stock for stock deals

14:26 and stuff like that. Maybe I just want a public entity, and if I'm gonna pay a distribution at some point, somebody's gonna look up and start buying the stock So they potentially They're young guys

14:40 too, they're not old guys. So they've got time to kind of lag into a fair stock price, if you will. So I don't know if that's part of it, but when I read the story, that was what I was thinking.

14:53 I would guess that that's pretty spot on. These guys are smart and sophisticated as you talk about. It is differentiated in the space because of the old feature and conventional and low base decline

15:06 rate, et cetera So it is that currency that is attractive from a strategic standpoint. Yeah, 13 yield. The Yates family has a little bit of money that could use a 13 investment advice is not,

15:24 this is not investment advice, blah, blah, blah. All right, let's bash on the New York Times a while. Yeah, this caught my eye yesterday thanks to actually Origin commenting on Dan Byers tweet

15:36 I think they serve together on this. US. Chamber of Commerce, Energy Policy Think Tank. I think it's the Global Energy Council. I don't recall the precise name, but basically the New York Times

15:50 published a headline that was essentially that the Trump administration is going aggressively against those, particularly the IEA who would continue to push a narrative where we're gonna see people

16:06 all demand buyer for 2030, and we know that's been fairly well rebutted.

16:16 And really what it's about is

16:20 the New York Times presented as its foundation analytical or scientific foundation, something in an IEA report that conflated one of their scenarios

16:38 the term forecast, which actually is kind of a reference case or base case prediction. They didn't clarify the fact that it wasn't a forecast. It was a scenario, none of which is supported by any

16:50 kind of adopted policy measures. These are kind of what-ifs, more fantasy than reality. But you don't find until page 67 of the subject IEA report that they clarify the notion that this is not a

17:09 forecast, it's a scenario. So the New York Times taking the executive summary, running with it, because it does align with a more climate tilting agenda. How can the Trump administration continue

17:23 to deny reality based on the highest integrity or most sterling reputation policy experts and forecasting experts out there? Again, it's not a forecast, it's a scenario. We see this time and again

17:39 with the IAA and why we've been talking about, look, the IAA has got fundamentally some good people at the analyst level do really thoughtful work. It's long been regarded in a lot of ways as the

17:54 gold standard for a lot of energy data. But the leadership has taken over as a very agenda driven editorial process. And that's really my criticism of the IAA has been for the last several years.

18:08 So I've said repeatedly, I think, a reset and reform of the IAA and getting it more back to its original mission is what's required here.

18:20 And I don't think Exxon would be looking to develop a potentially a22 billion exploration development program and deep water trended out if

18:34 they signed on scenarios, any kind of realistic forecast for global oil demand? Yeah, no, I, you know, it's interesting. I've got a really, a really sharp friend who is not an energy person

18:52 per se, but incredibly wicked, smart. And we, we spent a lot of time chatting recently, just about the state of the world. And, you know, I was defending hydrocarbons and, and basically

19:12 saying CO2 emissions are just not as bad as they're making it out to be the world's not going to end. But her point was, and I think it's a good one. There are so many other measures that were

19:26 causing the planet, a lot of stress on, you know, plastics, depletion of agriculture, lands in terms of minerals, etc. And she's really smart, really thoughtful. And she went through it

19:41 through it all. And you know, she kind of was beating me up a little bit about

19:47 not the CO2, but she was just going, well, you know, you can defend oil and gas, you know, all you want and everything. But where I turned the conversation around, and I think we kind of wound

20:01 up having some agreement, is this stuff's so important that we really need to be thoughtful about how we approach it, 'cause we've spent trillions of dollars changing our energy delivery system,

20:14 and I don't think we've,

20:17 I don't think we've, we've materially, as a world, lessen the CO2 going into the atmosphere. I mean, certainly the Western world, the United States and Europe have cut back, but India and China

20:35 have certainly, certainly picked it up. But it was interesting talking with her, because she was really smart. And it just comes back to the point we talk about, it feels like almost every week,

20:45 we have to be more thoughtful. I think my light went out. We have to be more thoughtful about how we approach the planet and what we

20:57 do. So. Yeah, I mean, we can't continue on in some pockets, some pockets, it's been, let's spend a lot of money and see what happens.

21:12 I think you're starting to see objectivity and sound science and analysis return to the messaging and the leadership on these issues. Because changing the world's energy delivery system in a

21:29 revolutionary timeline is certainly not trivial. and it's never been done before. I think this other light bounced off too. So maybe I'm just gonna be Darth Vader the rest and kind of sit here in

21:43 the dark the whole time. We've got the big globe light up here that's not on, but anyway, let's go back to our favorite topic, electricity electrons for AI. Yeah,

21:59 and we talked about this month Let's do it with some gumbo

22:04 and jumbalaya.

22:06 Wrong part of Louisiana, but yeah, we talked about it when it was announced, AI has got their AI. Meta has their large,

22:20 largest AI data center project that they announced for Richland Parish, Louisiana

22:29 10 billion targeted investment. Entrogy is the. is the power provider in that region. And so, Intrigy got approval at the state level to move forward with three combined cycle net guest generation

22:48 facilities. And importantly, I saw the announcement either last week or the week before that the transmission investment for 100 mile high voltage transmission line of12

23:02 billion Metas also seeking fast track approval for an additional 15 gigawatts

23:11 of solar for the project as well. So

23:15 we're not waiting on things, particularly in states that are,

23:22 you know, very pro development oriented. And I think you could put Louisiana near the top of that list So first of the three, first two of the three combined cycle plants are scheduled to come

23:37 online in 2028 and the third, which is actually, I think a redevelopment of an existing site is 2029. So we're still talking three to four years out, but things are moving. Yeah, no, that's,

23:54 ah, there goes the light. I don't know what happened. I look better though, not a horrible hair day,

24:02 but anyway, so the reason I'm in the T-shirt and didn't shower this morning, I did shower last night, I promise our viewers I did, 'cause I worked out last night and showered afterwards. Today at

24:18 lunch, Clyde's gonna go over to Lifetime Fitness and we're all taking a class of some sort. Julie's got us, she's decided we all need to get in shape. Is it a mystery?

24:32 It's not a mystery, I just don't know what the class is, but we're gonna be, you know. Grappling and. Grappling and. Probably, yeah, exactly. Exactly, so we'll be doing that.

24:47 So I forget what we predicted on a BDE about the Trump and Putin summit. Do you remember what we said? I think it wasn't all that optimistic that there would be any kind of movement on

25:07 the territorial concessions, which are at the heart of this. And clearly, there wasn't. There was progress in some observers' views as we're gonna go straight to a peace agreement. We're not even

25:26 gonna talk about a ceasefire And so then you had, you had an acceleration of movement, if you will, after the Alaska Summit, where they talk for three hours at Joint Base Elmendorf Richardson,

25:40 they're outside outside of Anchorage.

25:44 And then you had what was it, seven European leaders show up at the White House on Monday following, which was this past Monday, including Zelensky.

25:59 And, you know, this is all Zelensky in a suit. Yeah, some of the memes around that were pretty hilarious. There was the old

26:08 pull ups at, you know, the big boy pants that commercial jingo was superimposed over Zelensky's arrival in the suburban and Trump greeting him It was hilarious. The only one would be better if they

26:23 had dug up in old 70s grandimals

26:27 and anyway, so.

26:32 You know, the push toward getting Zelensky and Putin at a table in a bilateral meeting, ultimately leading to, you know, if that goes well, a trilateral meeting

26:45 is, you know, it makes for good headlines. I think it makes for kind of feel good, but you know, I do think that we've started to see signs this week already of the Russians really slow playing

27:02 this, 'cause I don't believe that, you know, that really the territorial concession issue is negotiable. Yeah. And if you get a chance and we've attached it here, I just happened to catch

27:19 an interview. Brett Baer did with Jack Barsky who's a long time,

27:27 KGB agent who was operating here in the US, he decided to go over to the good guy's side. And he really illuminates a lot around the psychology and the hatred, the deeply rooted hatred

27:45 between

27:48 Putin and Zelensky and that there's a whole,

27:53 who makes the first move, how are we ever going to

27:59 build the minimum amount of trust that's necessary,

28:04 Russia's not going to allow kind of unilateral or bilateral without them determination of what the security guarantees are

28:14 that would motivate Ukraine to maybe make some territorial concessions for what the Russians want And so each has got to walk away from whatever. peace agreement there is, feeling like politically

28:29 that they've got a win. So I

28:32 just think there's a lot of

28:40 kind of DNA here that is really hard to grasp. Yeah. No, and the point I want to make, and we try to try not to get political per se on BDE We really only talk about politics through the lens of

28:56 energy policy, and obviously with Russia being such a large energy producer, it's important to talk about these things because of the ramifications of what might happen. But

29:10 I'm going to do a little bit of a rant here. I mean, we had three years of doing nothing but sending weapons to Ukraine and watching a lot of people get killed and a lot of lives get destroyed. And

29:25 to hear criticism, and I'm not a Trump fanboy in any way, shape or form, and I don't wanna be perceived as one, but hearing people criticize Trump for putting a red carpet out there, to hear

29:39 people criticize Trump for this or that. I mean, at least he started talking to

29:50 Putin and got some movement He got the Europeans to come here and got some movement. I love the story about calling Putin at one o'clock in the morning. Instead of this formal state department, we

30:04 need to vet the call screw it. Let's get Putin on the phone and tell him where we are and

30:10 making it happen. And even if this fails,

30:16 I mean, every American should be applauding us or at least hoping that it works and sitting there reading stuff in the media, it almost feels like they're rooting against this. And this is really,

30:28 really bad. You can say horrible things about Trump all day long. And it's hard to dispute a lot of those criticisms, but at the end of the day, if we can stop this war, it's a really good thing.

30:42 And I'm just kind of tired of it. Just at some point, we all ought to be able to agree on something and stopping this war should be near the top of that list. Yeah, and I think that's right. And

30:55 I think it's starting to become more a part of the conversation among Democrats

31:05 that the notion that no matter what it is, we're going to be against

31:12 it is not a winning message And I've seen some of that, and I don't know, there was a Bill Maher clip, and I think it was with Chris Pratt.

31:23 You know, Mahr's been back and forth on a few of these issues, but

31:28 just, you know, all the incidental or the ancillary stuff, like they made a big deal about him lumbering up the stairs to Air Force One or his meandering gate down the red carpet, whatever. Well,

31:43 he flew back to DC. I think he landed and remember, that's four time zones away is essentially a day trip He landed back at Andrews at 3 am, and the first thing he does is go to the White House and

31:56 get on the phone. Yeah. Yeah. And so I don't want to, I don't want to like cause the cheering section to go up. Yeah, Trump. But good God, at least we're, at least we're doing something we're

32:12 at least trying. And you and I've talked about this on BDE before, height of the Cold War, the Cuban Missile crisis. I mean, literally the world imbalance. Robert F. Kennedy was going over and

32:26 he was talking to the Soviet ambassador. I mean, this whole notion that we should not be talking to our enemies, particularly when they have the largest nuclear arsenal on the planet is just

32:40 foolhardy. We need to talk to them. They're major players. And so anyway, I'll get off my, I'll get off my soapbox. You don't broker deals. You don't get deals done without talking. Yeah. And

32:53 if you can believe what Putin told Trump is that he had no communications, no personal communications, one on one, with any in the previous administration. So that's, you know, a four year time

33:08 frame. So they're not, they're not talking Yeah. Biden, Biden and Putin met once. They, they, they met once and then, you know, subsequent, that Putin went and invaded Ukraine and, you know,

33:22 all hell broke loose. But yeah, I don't think we're served very well by not talking, you know. I mean, from an energy standpoint, the headlines over the past several days have, you know, I

33:34 think contributed to some of the continued weakness and crude that we've seen, although we had a good reminder yesterday from the DOE's that inventories are still very low. We had very positive DOE

33:50 numbers across the board.

33:53 Now we haven't gotten to the end of summer, technically, that comes when the calendar turns at Labor Day. But, you know, the underlying fundamentals continue to, at least on the supply side,

34:08 continue to be marginally constructive. And I know there's a lot of wall left to climb on global weakness and worries about that. But, you know, this type of headline where there's at least

34:24 signals of some type of a resolution or at least symbolically. Well, all these Russian barrels are going to be back on the market. And, you know, therefore that's a reason to

34:35 to beat down on crude. But anyway, so they're already. Hey, we're old. They're already there. The most the most important thing in all of this and Trump has been consistent about that is the

34:47 tragedy of these, you know, tens, if not hundreds of thousands of of young, mostly young men that are,

34:57 you know, on the front lines that are, yeah, that are facing death or or serious kind of life changing injury. For what? I was in Vancouver last weekend and and the bartender at the hotel, I

35:14 grabbed a drink before I ran out.

35:19 to see a show and anyway, the bartender was from Ukraine and he had left kind of post the invasion and it was a pretty somber conversation about just what life was like, what he was looking towards

35:40 if he had stayed and he had family up in Canada. So that's how he got there So you can't just slip a trip to Vancouver for a show in there without

35:54 giving us a little more detail into

35:59 the high flying chuck lifestyle. Well, you know, so you know my escape from reality when whenever I need a break from reality, I go out and I'm a roadie for one of my musician friends, right?

36:15 That's kind of what I do for fun, that's what. I love to do. And dear, dear sweet friend Jewel was playing Grand Prairie, Alberta, and she was playing Vancouver. And so I carried, carried the

36:30 guitar this weekend. I spent a good 12 to 16 hours in Grand Prairie and have now been to the Odessa of Canada That's awesome. What an amazing artist.

36:51 She's really great.

36:54 And you know, these are first shows in a while. So voice was good and rested and she crushed it. And at the Folk Festival in Grand Prairie, this was a real treat. She got up on stage and did

37:06 probably three songs with Steve Poults. And if you know kind of Jewel history, Jewel was homeless in San Diego, to be an artist and she. went to the owner of a coffee shop and said, Hey, can I

37:20 start performing here? And the coffee shop owner's like, Yeah, I normally have this guy, Steve Polts, who

37:28 performs here, but he doesn't perform on Thursday, so you can have the Thursday night slot. So anyway, Jewel and Steve became really good friends. She tells the best story about how they went to

37:38 Mexico and actually busted a drug ring with the Federales You can look up Jewel, Federales, Mexico on the web and there's pictures of her back then and the whole story. And she, you know, no

37:55 better entertainer on the planet. She does that great stick. And the last thing I'll say is they co-wrote, You were meant for me. And they both got signed to record deals around the same time and

38:08 they were talking about who was gonna get to release it as a single And the way they decided is they went to a taco truck

38:17 And the people that hung around the taco truck at two in the morning were ladies of the evening and they told them, Hey, we're having this discussion and the ladies of the evening are like, All

38:28 right, let's see it. So Steve Paltz played a

38:34 guitar and sang it, Jule played it and sang it. All the ladies of the evening were like, Sorry, Steve, she gets it.

38:43 But - What a great story Oh yeah, and just a quick heads up 'cause Paltz is a great dude. He's a very talented musician. So watching the two of them play on. And amazing pretty was that, know you,

38:54 mean I. stage

38:60 he's playing a show at a floor's general store right outside of San Antonio with Robert Earl Keene on August 30th. So I'm gonna try to get over, I think it's August 30th, 31st, somewhere in that,

39:14 that weekend. Definitely, if you're San Antonio, you should get over and see it because he's a talented dude. Funny guy too. Okay. We have a few minutes. Music plug from my side. It came out

39:26 July 25th. My good friend and very talented songwriter and artist Rick Huckabee, Nashville based.

39:35 Short sidebar, his father was the head coach at Marshall University basketball and actually was a Dale Brown assistant at LSU Anyway, Rick, as a side project works with a group called Big Shoes,

39:49 which is a bit of a tongue in cheek tribute to Little Feet. It's a roots-americana group. They just put out this new record called King Size. Go check it out. Rick, as I think I've mentioned to

40:05 you before, Chuck, your good friend Thomas Rhett, Rick was one of the main writers on Bear with Jesus and also wrote muddy water, which Trace Adkins took into the top 20, both very obviously

40:19 spiritual songs, but check out Big Shoes and King Size. And if you're in Nashville, go see them

40:29 at Burman Street Blues and Boogie Bar, which is in Prunters Alley, which is a real cool dive spot, but they've got some serious players in that band, Muscle Shoals, Brass, you know, guys that

40:40 have done it for a long time and are at the top of their craft, so it's a great piece of work. Give it a listen. So, inevitably, Sarah Yates will be at that bar and she'll send me a picture and

40:51 I'll go, How are you underage in this bar?

40:56 Anyway, all right, Mark, good to see you, be safe, and we'll see you again next week. Yeah, hopefully Kirk will be around Yeah, exactly. See you, Clyde.