Ducs

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.

Domestic natural gas and oil production from the seven biggest basins in the onshore is predicted to move higher in March from February in nearly every field, the Energy Information Administration (EIA) said Monday.

U.S. onshore natural gas and oil production is predicted to move higher in March from February in nearly every one of the seven big fields, the Energy Information Administration (EIA) said Monday.

The U.S. onshore rig count will decline modestly through the rest of the year, but a large backlog of wells awaiting completion indicates pressure pumping demand will continue to move higher over the coming months, Raymond James & Associates Inc. said Monday.

The drilled but uncompleted (DUC) well count in the Permian Basin had risen to 2,163 at the end of May, about 78% higher than a year ago, as the most active area of the United States continues to draw more rigs and more people, according the Federal Reserve Bank of Dallas.In a report issued last week specifically about the economic conditions in the Permian, economists reviewed data using Texas data for the Midland-Odessa metropolitan statistical area and the 55 counties in West Texas and southern New Mexico that make up the Permian Basin region. The insight follows up on the 2Q2017 Dallas Fed Energy Survey issued at the end of June.

The number of oil wells drilled but not completed across the United States is higher today than the historical norms for all major plays, but the advent of quick-to-complete unconventional drilling makes it more commonplace — and less risky, according to Raymond James & Associates Inc.

Consol Energy Inc. and Noble Energy Inc. have ended their joint venture (JV) in the Marcellus Shale, giving both companies a clearer path forward with regard to how those assets are developed, in a deal indicative of how rapidly the industry has changed since the partnership was formed in 2011.

While there have been some signs of reawakening from the long commodity price slumber in the Bakken Shale, the effects of more than two years of low crude oil prices continue to show in the number of drilled but uncompleted (DUC) wells.

Ohio pure-play Eclipse Resources Corp. said late Tuesday it has revived its idled drilling program and plans to take advantage of the improving natural gas strip by working down its drilled but uncompleted (DUC) inventory and ending price-related production curtailments.