re: Anyone buying RIG?

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I agree with a lot of what you said but this is simply not true. DW exploration will continue to happen (at a reduced rate but not dead). There are megafields out on the ultra DW waiting to be discovered. Most of the companies at play in the DW have strong balance sheets and can afford to still spend in this depressed price environment. The timelines for DW projects are much longer than onshore and shelf projects so they have that advantage when it comes to price forecasts. Also there will continue to be appraisal and development drilling on the already discovered huge fields in the DW. Fields where initial production may not occur until the 2018-2020 timeframe when most predict prices will be back in the $80-100 bbl range.

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