U.S. Shale Industry Accelerates As Oil Prices Rise ...Middle East

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U.S. Shale Industry Accelerates As Oil Prices Rise
source : OILPRICE ( Middle East ) () 26
The number of drilled but uncompleted wells (DUCs) that accumulated at the height of the pandemic has already subsided to pre-Covid-19 levels in the US, a Rystad Energy analysis shows. After swelling to a multi-year high of 6,548 wells in June 2020, the number of such wells in the country’s major oil regions* slimmed down to around 5,700 wells by the end of December 2020. The inventory of ‘live’ DUCs, which excludes tentatively abandoned wells drilled a long time ago, also declined by around 800 wells in the same period, from…

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