Question-and-Answer Session
Operator
Thank you. (Operator instructions) And we’ll take our first question from Neal Dingmann with Wunderlich Securities.
Neal Dingmann – Wunderlich Securities
Good morning, guys. John, just a couple general questions first. Just wondering -- as you see sort of ramping up, obviously, you mentioned about becoming a bit more active now and carry on with the plan, what are you seeing on service cost, rigs that’s just completion of other costs as well that was one of your favorite, continuing to going to be your favorite?
John Schiller
Yes, I mean -- I think we look at where the rig rates are right now. We’re kind of talking late-1990s, early-2000 sort of rates. But we didn’t show you guys, Neal, we’d just give you some numbers. If you look at the Main Pass drilling program with the cost we had there, we came in somewhere around 20% below our AFE even with reduced rig rates in AFEs. If you look at $60 and $5, we expect those wells to pay out in three months. If you look at the strip, we get our money back in two months. So the economics are pretty compelling. And we will continue to look at those opportunities. That’s what Steve was lighting out for you there, as we look at the rig costs, where we can do things, look at the only assets we have. We see our cash flow. We’re generating significant amounts of cash. We’ll look at opportunities like that to go put some more money to work.
Neal Dingmann – Wunderlich Securities
Perfect. And then what’s your thoughts these days, John, on Gulf Coast? I know you have been really active there lately. Are there some things there that you see that you’d go forward and become operator of?
John Schiller
I think your question is on the Gulf Coast. We see a lot of opportunities there. Most are gases. That’s one of the reasons we are not jumping all over. They are mostly exploration. Another reason, right now, we like the exploration mix that we have and what’s going on in the ultra-deep shelf. And more importantly, most of our leads and our prospects there have a lot of years left on their leases. So we are not really in a kind of buying on any of that. You will see us drill a couple of wells, I think, for the years out. We are looking at right now that you heard us talk about in the past where we brought in some partners and things like that, but for the next six months, I’d say most of the focus is on the Gulf.
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