JB,
I wouldn't over think it to much. ConocoPhillips don't seem to concerned about their Willow prospect and how the Biden administration policy will impact them
"My understanding of the Biden campaign is that they're considering not leasing any more federal lands [onshore] or offshore, not necessarily stopping activity on federal lands," Fox said. "Time will tell, of course."
https://www.spglobal.com/platts/en/...e-from-potential-biden-regulatory-changes-coo
88e have already leased and permitted Peregrine, would be very difficult to now backpedal those agreements.
Just my thoughts.
Cheers and beers
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