re: I did that - Let’s go Brandon

Number 6 is correct. I worked in the Louisiana oil patch when I was in college. 2R Drilling had rigs stacked up at one time and some of that stuff was selling for pennies on the dollar because there were no buyers.
It cost money for exploration and the last thing a major wants to do is drill a dry hole. Even the investment for an on land workover rig is mind blowing. Offshore the costs are exponential.