My brother works for a Gulf of Mexico drilling company. They are using this period to overhaul several rigs and retire some marginally reliable ones. This has happened before, our break at the pump won't last much longer.I work for one of the offshore drilling company's we are still drilling. Most of the guys I know offshore are still drilling for now. Most of our projects cost are spread out over a 20 to 50 year life of the field, so a temporary drop in oil prices should have only a small affect on what we do. The land rig guys that can be shut down and restarted at the drop of a hat, they will and are feeling the pressure first.