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…
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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.…
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.
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.
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.