Chevron Earnings Call Insights: Unconventional Rigs and Cash Pile

John S. Watson – Chairman and CEO: Well, we are. Having said that, I think the industry is very focused on building organizational capability, and we’ve added a significant number of new people and added to our drilling training programs that we have in place both in the United States and overseas. And so, organizational capability; we’re not going to operate if we don’t have people that we think are trained and capable and I think there are pressures on the industry, but when we plan to ramp-up, we only plan to ramp-up if we have the right people.

Evan Calio – Morgan Stanley: My second question was, John, I know it’s one of your favorite topics as well as Pat, is the Ecuador litigation. I know still there’s been some positive movement there in the most recent quarter. We’ve read the judge directly implicating himself for improper conduct as well as plaintiff. But also, your legal involvement is spreading across the globe now in Argentina and Brazil, and of course, as well as U.S. and Canada and The Hague. So, I was wondering if you could just provide any roadmap for activity in 2013 in these various theaters of operation and when the RICO case is set to commence, and I’ll leave it there.

John S. Watson – Chairman and CEO: Sure, that’s a broad question; I’ll try to do it succinctly. First, your premises is correct. We continue to uncover evidence of quite profound fraud in the case, and you mentioned that a judge that was actually involved in ghostwriting the opinions based on bribes he was receiving from the plaintiff’s lawyers has come forward, and given a statement in U.S. courts and has provided corroborating physical evidence to support his allegations that he ghostwrote the opinion for the plaintiff’s lawyers. So, you now have a circumstance where we have through videos, through sworn testimony, through emails and other means; clear evidence that the plaintiff’s lawyers have thoroughly corrupted the judicial process in Ecuador and this is an invalid opinion. I think that’s pretty well known by you and others out there. I think the question is, how do you bring this thing to an end. I would say that we’re moving forward in several areas. The RICO case, the wheels of justice move at a certain pace. We’ve been moving our RICO case forward. We’ll go trial in New York in October of this year. We’re actively in the courts, in The Hague and we expect there are series of rulings that will take place over time, but there are – we’ve won virtually every procedural ruling there and expect that we will see – there have already been some judgments that have been put out indicating, for example, that the Government of Ecuador should not do – they should do everything in their power to prevent this false judgment from being enforced, which of course, they’ve ignored. So, we do expect that there will be possible rulings out of that panel as well. But there are multiple stages to that, to those cases. We’ve had multiple discovery proceedings in the U.S. The area that you’re probably interest in is the – we believe it’s an illegal verdict, but the plaintiff’s lawyers are taking it and trying to use that judgment for recoveries in other countries. Our view has been that any country that honors rule of law will not uphold this verdict and in fact, will throw it out. Having said that, we have to defend ourselves. So, we’re doing it in Canada, Argentina and Brazil. You should know that these cases take time. There are number of procedural steps that take place. So, first, there are jurisdictional issues that are worked and it takes a while, if you ever get through those hoops, to get to the merits and our view is that when there has been a fraud committed by the court that no government with the functioning judiciary is going to hold this. And the countries where these enforcement actions have been filed, we think ultimately will support rule of law, but we have to fight it every step of the way and I can’t put a timeline on that. What I can tell you is, we are not going to reward people that have committed crimes against us.