Offshore May Never Recover, page-13

I think some have missed the point of the article.
Its not about what's the better or worse, its about how much these companies are willing to risk in development costs in the future to remain an oil and gas company.
The fact is the big end of town want out of expensive developments while POO is unpredictable.
Cairn, Conoc and Apache who are mid size want out.
Apache now concentrate onshore in these very wells that are sending high cost producers bust.

Companies are adapting to US50/US60 oil as they believe it will be these prices for years.
What is not developed offshore will be replaced with onshore development.
The US shale boom is still producing plenty of oil even at these prices.

FAR is an example no one will like.
If what some say break even is US40 boo then consider if POO stays at around US50 for years to come will the field get developed?
When oil was US100 it was no problem to make a decision.
This is basically what the article is implying IMO.
Long term low POO.