The number of DUCS, drilled uncompleted wells in Oklahoma and other oil-producing states is shrinking according to a report by Bloomberg.
The new group said the number of the DUCs is expected to decline to less than 5,000 by the final three months of 2021. That’s a drop of nearly 2,000 wells compared to the second quarter of 2020.
The growth in the newly completed wells was shown in recent months as reports from the Oklahoma Corporation Commission indicated wells drilled in early 2020 were finally completed in 2021.
Click here for the Bloomberg story.