Question-and-Answer Session
Operator
Thank you. Ladies and gentlemen at this time we’ll begin the question-and-answer session. (Operator Instructions). The first question comes from Jason Wangler with Dahlman Rose. Please go ahead.
Jason Wangler - Dahlman Rose
Good morning guys, great quarter.
Tracy Krohn
Hi, Jason
Jason Wangler - Dahlman Rose
Just kind of, when you guys set that cash flow budget, obviously the 800 million in CapEx, commodity prices where they are at right now. Is there kind of any idea what to do with that extra money is going to be coming, obviously it might be kind of tough to ramp any further with the aggressive drilling program? But is there any kind of thought so far, what to do with that?
Tracy Krohn
That’s kind of a quality problem in it.
Jason Wangler - Dahlman Rose
Yes, definitely.
Danny Gibbons
I mean, there are opportunities, I mean, all it does in the long run, of course and in the short run for that matter is still a war chest for other acquisition opportunities and potential consolidation. So that’s one of the things that we see. I mean, we’ve always got the opportunity to pay down some of our term B debt, which is pretty lower interest rate, so that’s kind of further down the list if other things come along that make sense. We did a special dividend last year, we really haven’t made that decision because I think that the acquisitions market hitting up pretty well and we certainly positioned the balance sheet to participate in the future with all of our actions last year.
The market beat us up pretty bad for some of the decisions that we made last year to cut back on drilling and position our balance sheet to take care of some of what we thought were future activities. But so far this year it has proven that those were the right decisions. And so that’s kind of the future that I see, an immediate future and I hope to have this discussion many times with our staff and worry about quality problem like having too much money.
Jason Wangler - Dahlman Rose
Sure. And then just kind of jumping around on you. But for the rigs that are going to be coming on with 18 done kind of after this quarter or at least drilling, are those all contracted for all 50 wells? Are they all set in stone pretty much at the windows and everything? Or are there still going to need some time to have to possibly move around and get the rigs going at the right time?
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