There's different ways you can view it.
AFAIK, BHP haven't stopped drilling offshore wells, or completely withdrawn from the PI.
There's a reason some projects got jettisoned and others kept, in their cost cutting program.
I also wonder why BHP couldn't have farmed out a portion of SC55 to reduce their costs. Was Shell not interested ?
Instead they walked away with a penalty.
This suggests to me that post seismic interpretation, the permit prospects are very high risk, ~5% COS, and any new farmin terms will reflect that risk accordingly.
sc55 farmout flyer, page-10
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