Brian, "renovating" is the key word.  I will buy off on your argument when Hilcorp picks up the maintenance cost that BP shed on the Slope by dumping the small output units on Hilcorp.  Endicott, Northstar, etc. have been declining in production for a long time.  BP has paid billions in fines and damages for their London Accounting first management style.  None of these Texas oil men are in this for the long haul.  If Hilcorp cleans up the mess that's left after they've sucked out the last drop, I will surprised and pleased.  I've worked in the petrochemical biz for 50 years, seen the old pumper jacks in Texas, OK, PA, etc. that these oil men have left behind for others to clean up, most of these acres of old oil fields are still surface oil polluted and strewn with oil field junk.  We need long term resource development, not scavengers pickin' the bones clean after the big predators have had their fill.