See other National News Articles
Title: DucDucLow: US Oil Drillers Are Running Out Of Spare Wells
Source:
[None]
URL Source: https://www.zerohedge.com/commoditi ... rs-are-running-out-spare-wells
Published: Jul 1, 2022
Author: Tyler Durden
Post Date: 2022-07-01 19:29:18 by Horse
Keywords: None
Views: 98
Comments: 5
By Natalia Kniazhevich, Bloomberg Markets Live analyst and reporter As oil prices have climbed to around $110 a barrel, US producers have been restarting projects that had stalled. They’re starting to run low on these extra wells, which could limit future domestic production. The number of drilled but not completed oil wells -- also known as DUCs -- has been shrinking for almost two years, and is now at its lowest level since the series started at the end of 2013. The oil production process involves, at a high level, two separate steps: drilling and fracking. When a company drills a well it can leave it uncompleted, which happens when oil prices are low. That’s exactly what we saw during the early part of the pandemic. When prices, like now, are soaring, companies complete wells and begin to extract crude. But with a limited number of DUCs left, drilling more oil in the US will involve tapping more new wells, a harder process for companies facing pressure to meet ESG targets and maintain capital discipline. 
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 3.
#3. To: Horse (#0)
I heard that in west Texas the oil boom is so strong that if you do not get into the restaurant by 0900 you cannot get breakfast. They get a shipment of food every day. ;)
#4. To: BTP Holdings (#3)
freedom4um.com/cgi-bin/readart.cgi?ArtNum=263337
Let's Go BRANDON!!! Yes, and I read on this site today: BRANDON proposed regulations that will directly affect the Permian Basin, the largest oil field in the United States, accounting for 95,000,000 gallons of gasoline per day or 40% of the oil produced domestically. Quoting Obongo, you Can Count on BRANDON to FUKITUP! I believe that's a TRUE statement.
Top • Page Up • Full Thread • Page Down • Bottom/LatestThey’re starting to run low on these extra wells, which could limit future domestic production.
Replies to Comment # 3.
#5. To: BTP Holdings (#3)
I heard that in west Texas the oil boom is so strong that if you do not get into the restaurant by 0900 you cannot get breakfast. They get a shipment of food every day. ;)
End Trace Mode for Comment # 3.