A new government report shows well inventory in the Anadarko Basin and other oil producing regions in the U.S. is falling while rig activity is staying fairly flat.
The Anadarko had 753 drilled but uncompleted wells in February 2022 and the number fell to 740 by March, according to the Drilling Productivity Report released by the U.S. Energy Information Administration on Monday.
The number of DUCs in the Permian Basin fell from 1,380 in February to 1,309 in March, another sign that energy firms are trimming their well inventories.
Of the various shale plays, only the Haynesville saw an increase in the number of DUCs, moving from 371 in February to 383 in March. DUCs in the Bakken from from 426 in February to 415 in March.
The same EIA productivity report showed that new-well production in the Anadarko Basin will increase from 398,000 barrels a day in April to 401,000 barrels a day in May. Production in the Permian is anticipated to go from 5,055 thousand barrels a day in April to 5,137 thousand barrels a day in May.
New well production per rig in the Anadarko Basin in April averaged 726 barrels of oil a day but is expected to drop to 721 barrels a day in May.
The Eagle Ford play of South Texas has the highest new well production per rig at more than 2,000 barrels of oil a day.