More U.S. wells go into production

Drilled but uncompleted wells on the rise, EIA reports - Daily Energy  Insider


The nation’s total of drilled but uncompleted wells was trimmed considerably from May to June reported the U.S. Energy Information Administration.

The nation’s total dropped from 4,271 in May to 4,245 as of June. The largest decline was reported in the Permian Basin where the count fell from 1,244 as of May to 1,214 in June.

It is seen as a sign that oil and gas producers are putting more wells into actual production, sending more product to market at a time when oil prices linger around $100 a barrel and gasoline costs more than $4 a gallon in the U.S.

With the exception of the Haynesville  play, the Permian saw the largest drop in DUCs, or wells where drilling was finished but the final completion activity had not taken place.

In the Haynesville, the number of DUCS increased from 441 in May to 453 a month later, according to the EIA report.

The Anadarko Basin saw a decline of 8 DUCS from May to June, going from 727 to 719. The DUCS in the Bakken slipped by one from 425 to 424 in June. The Eagle Ford dropped by only one from 598 to 597.

In the Appalachia, the DUCS increased by one from May to June, going from 526 to 527. The Niobrara also gained one DUC, from 310 in May to 311 in June.