The number of wells completed each month in the Lower 48 has outpaced the number drilled since July 2020, which, combined with limited natural gas pipeline capacity from the Permian Basin, may reduce oil production growth, the Energy Information Administration (EIA) said. The decline in drilled but uncompleted wells, aka DUCs, was noted in EIA’s…
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Calgary’s Pason Sees Continued Onshore Drilling Uptick in North America
Natural gas and oil field activity will become even more robust as the limits of shrinking storage volumes and drilled but uncompleted (DUC) well inventories become more pronounced, according to Calgary-based drilling technology supplier Pason Systems Inc. “Meeting global demand for oil which is similar to pre-pandemic levels will require new drilling,” said CEO Jon…
August 17, 2022
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