Things Still DUC-ky for U.S. E&Ps Bolstered by Uncompleted Wells, Shuttered NatGas (published June 21, 2016)

Low oil and gas commodity prices, robust storage and stagnant demand are forcing U.S. producers in unconventional basins to work smarter, not harder to lock in profits. One way of weathering the current bearish storm is through the leveraging of their Drilled But Uncompleted (DUCs) well portfolios.

This six-page report takes an in-depth look at where the DUCs are located; how many there are; and what current strategies are being deployed by producers from the Bakken Shale, to the Permian Basin and Eagle Ford Shale, and throughout the Appalachian plays.

Referenced in the report:
Anadarko Petroleum | Cabot Oil & Gas | Chesapeake Energy | Consol Energy | Continental Resources | C&J Energy Services EOG Resources | EQT | Fairmount Santrol | Hess | Memorial Resource Development | National Fuel Gas | Noble Energy | Oasis Petroleum | Range Resources | Southwestern Energy

The Report Includes:

  • Where the DUCs are
  • It's not the "gassy" operators spurring DUCs gas production
  • Liquids plays at the top of the list of DUCs producers
  • Producers space out DUCs production, watching prices
  • New infrastructure, productivity gains play a role
  • New world of drilling driven by cost efficiencies
  • In the Northeast where transportation is a problem, it's not just DUCs; It's also COBs (completed but still on backlog)

"DUCs are a pretty easy lever for us to pull." - Taylor Reid, COO, Oasis Petroleum Corp.

"Leading operators 'batch processing' drilling operations and
following a 'drill and hold' strategy.'
- IHS Inc.

"Just go back and look at the history of gas prices. When they move, they move abruptly.
With DUCs 'we can react in weeks.'"
- Jay Graham, CEO, Memorial Resource Development Corp.

Jeffries LLC analysts look beyond DUCs to a return of "the days of spikes and roses"

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