I wish I could say that I waited and pulled the trigger at 65c, or that I saw COVID-19 coming and sold but I am not that smart and I made a mistake not to adapt quickly before the media was aware of the size of the threat.
At 65c bankruptcy was a possibility as mentioned on the earnings call https://edge.media-server.com/mmc/p/664ptj4e but by 17 December we had a vaccine rolling out and a successful court ruling.
It may be a better investment today at $2.2 than it was at $0.65c as the only uncertainty is the oil price recovery - front of mind for analysts, from the Q3 call.
" Our first question comes from Connor Lynagh with Morgan Stanley.
Connor Lynagh -- Morgan Stanley -- Analyst
Yeah. Thanks. Wanted to focus on the back half '21 opportunities you were discussing, I appreciate the commentary around that. I guess what we're trying to figure out is what do you think the customer sensitivity to oil prices is these days? And how would you think about if oil prices remain broadly where they are today or move up 5 to $10.How would you think about the relative sensitivity of those opportunities?
Jeremy Thigpen -- President and Chief Executive Officer
Yes. Connor, this is Jeremy. I'll let Roddie chime in. From our perspective, there's still so much uncertainty in the world. When do we find a real solve, if you will, for COVID and what does that do to global economies? And when does that take place? And then how does that impact oil prices, certainly? As we saw in 2019, we had a relatively stable oil price that bounced around $60 a barrel for quite a period of time. And that's really where we started to see these offshore projects pick up with some earnest. So, I think right now, our customers are growing increasingly encouraged that oil prices have moved up from their bottoms, have stabilized a bit. And that if we can get through, I think, the election and kind of determine what the landscape is going to look like there and then start to find whether it's a vaccine or whatever kind of solve or COVID, I think that that gives them even more confidence and that is -- if you can get oil prices up closer to $50 a barrel, I think we start to see quite a bit more activity. And Roddie, I don't know if you want to add to that.
With the U.S. stock market hyperbolic and the securities and exchange commission turning a blind eye to fraud and stock promotion I think another crash is likely, I hope it's a 3mpbd hit to oil demand (as it was in the 2008 crisis) and that central banks still have enough ammunition to make sure that credit does not contract as it did in the great depression.
If we see another great depression it won't just be RIG going down the gurgler.
