re: I am looking for energy stocks to buy for the long term. Any suggestions?

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That doesn't make sense. People were drilling offshore long before oil was $75/barrel.

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I'm not defending that statement as true or trying to bash SDRL, I'm just inquiring. Below is a similar quote to the one I was talking about, this one found on Motley Fool (sorry, I couldn't locate the original). The quote is from Matt Fox, EVP at COP. For the record, I regrettably have a position in SDRL.

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So the rationale behind that decision was really relatively straightforward. We realized as we were heading into this new world order that we had to review all of our growth engines and see where is the highest value in the go-forward growth engines. So we reviewed the cost of supply of the whole portfolio and that's what shows up on [the above slide]. As we went through that process it became clear to us as we assessed it that the cost of supply for a deepwater portfolio in aggregate was around $75 a barrel based on our view. Now that's not to say that any individual project development wouldn't have a lower cost of supply than that. But it's when you put together the portfolio from lease acquisition through seismic and only one well out of four being a success and some failing through appraisal all the way through the cycle and you build a portfolio of that it was $75 cost of supply. So high relative to the cost of supply that's already in the portfolio and relatively inflexible. So we've tried to design a portfolio that's got low cost of supply and flexibility and deepwater did not fit either of those criteria so that was why we chose to exit. The oil sands and the LNG projects they are sunk cost, they are behind us now. So what we were looking at was a go-forward view of where should we be directing capital. And that's why we decided that the deepwater we didn't need it and we didn't want it in the portfolio.

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Linkage

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Don't buy pgn ask me how I know

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I sold all my PGN last week, literally one day before delisting from NYSE. My advice to OP is to buy blue chip oil and stay away from small cap for now.