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Permian, Haynesville Growth Highlight EIA’s Latest Lower 48 Production Forecast

Permian, Haynesville Growth Highlight EIA’s Latest Lower 48 Production Forecast

Despite projected gains from the Permian Basin and Haynesville Shale, overall natural gas production from seven key U.S. onshore regions is set to decline from April to May, according to updated figures released Monday by the U.S. Energy Information Administration (EIA). Total output from the seven regions — the Anadarko, Appalachia and Permian basins, as…

April 12, 2021
Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover

Bonanza Creek Moderating DJ Well Completions to Optimize HighPoint Takeover

With its takeover of fellow Colorado pure-play HighPoint Resources Corp. now complete, Bonanza Creek Energy Inc. is looking to optimize the combined well completions and midstream gathering needs, according to CEO Eric Greager. Bonanza Creek completed its merger with HighPoint on April 1. The closing allows the Denver-Julesburg (DJ) Basin operator to revamp the overall…

April 9, 2021
Lower 48 DUC Count Falling to ‘Normal’ by Year’s End, Says Raymond James

Lower 48 DUC Count Falling to ‘Normal’ by Year’s End, Says Raymond James

The Lower 48’s ample supply of drilled but uncompleted wells, aka DUCs, is coming down at a quick pace and is expected to reach “normal” levels by year’s end, tightening the oil supply according to Raymond James & Associates Inc. In a note to clients, Raymond James analyst John Freeman made the case that the…

February 9, 2021
Bonanza Creek Puts DUCs on Menu, Awaits Completion of HighPoint Merger

Bonanza Creek Puts DUCs on Menu, Awaits Completion of HighPoint Merger

Bonanza Creek Energy Inc. expects to know before the end of March whether shareholders approve of the proposed tie-up with HighPoint Resources Corp., which would merge two big Colorado operators. Bonanza in November agreed to merge with Denver-Julesburg (DJ) Basin rival HighPoint in a $376 million transaction, combining their Weld County acreage and production. “We’re…

February 1, 2021
Lower 48 DUC Well Inventory Down to Pre-Pandemic Levels as Oil Prices Recover

Lower 48 DUC Well Inventory Down to Pre-Pandemic Levels as Oil Prices Recover

Lower 48 oil and gas producers have drawn down their inventory of drilled but uncompleted (DUC) wells to pre-pandemic levels, reflecting an improved commodity pricing and demand outlook, according to new analysis by Rystad Energy. After reaching a multiyear high of 6,548 wells last June, the DUC count in the country’s major oil regions fell…

January 26, 2021
North Dakota Redirects Covid Funds to Cut DUCs, Stimulate Oilfield Work

North Dakota Redirects Covid Funds to Cut DUCs, Stimulate Oilfield Work

North Dakota officials last Friday re-allocated $16 million from federal Covid-19 funds to reduce a growing number of drilled but uncompleted wells (DUC) while creating up to 1,000 temporary jobs in the oil and gas sector. The action by the state Emergency Commission chaired by Gov. Doug Burgum was part of an effort to reassign…

October 26, 2020
Lower 48 DUC Backlog Looks Sufficient Until Drilling Activity Improves, Says EIA

Lower 48 DUC Backlog Looks Sufficient Until Drilling Activity Improves, Says EIA

The number of uncompleted oil and natural gas wells is slowly declining across the Lower 48’s major basins, but the current backlog should be enough to turn to sales until drilling increases, according to federal data. The Energy Information Administration (EIA) in its monthly Drilling Productivity Report (DPR) on Tuesday analyzed production trends into November.…

October 14, 2020

DUC, DUC, Goose? Giant Disconnect Seen in Lower 48 Well Completions, Rig Count

Lower 48 well completion activity is at an all-time high, even as the rig count has fallen, which is leading to a huge disconnect that may not be sustained through 2020, according to an analysis by Raymond James & Associates Inc.

December 2, 2019
Lower 48 DUC Count Overstated in EIA Data, Says Raymond James

Lower 48 DUC Count Overstated in EIA Data, Says Raymond James

The absolute number of uncompleted wells in the U.S. onshore has increased in the past two years, but the count is “normal” and in line with the swell in overall activity, Raymond James & Associates Inc. said Monday.

March 25, 2019

Permian DUCs Likely to Decline in 2019 as Sector Rebounds, Says Raymond James

A reversal in the backlog of uncompleted U.S. onshore wells could swamp operators when activity resumes early next year as there no longer will be an incentive to defer wells in the largest U.S. play, according to Raymond James & Associates Inc.

October 15, 2018
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