RT - Apache and Talisman are short term - both have already announced a reduction in drilling activity for next year. They operate on low cost and tight margins and their knees jerk harder than John Sergeant in a Viennese Waltz.
I think talk of a slump is a bit too premature but there will be caution for sure. I think a global recession will bite everyone even ABZ. The cocoon we live in up here will delay the onset but it will reach us.