Balance: Please bear in mind that CVX, XOM and APC each have multiple deepwater rigs already on long term contracts, hence can re-prioritize and drill a well in JDZ if that becomes necessary. Hence no surprise they drilled a year after PSC and it has been credible that they shift plans around to drill additional wells or sidetracks (altho we don't really know if that happened as conjectured here) But even these three have dilemmas these days.
Tougher for AXC, SNP et al, as they have to contract in today's market, get into a deepwater game new to them and beyond that figures out how to execute on a production plan in 5,000-7,000 ft. water depths.
If the reserves are as we believe SNP might elect to bring in one of the first three as partner - or some other comparable.
IMO the first three are well positioned to move fast in the ultra deep if the incentive is there, witness CVX deliberating on Jack in GOM currently.
Different theme: BB, must say I do appreciate your efforts in getting a moderate debate going here (pun deliberate). And we saw a week ago the good collaboration again emerging from Rocky finding the court documents for us all.
Stay the Course, we live in intersting times
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