RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:WelllAnd that’s just the latest M/M change from May to June.
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ource: Map by U.S. Energy Information Administration, Drilling Productivity Report (DPR)
We release an updated inventory of what we consider drilled but uncompleted wells (DUCs) each month in our Drilling Productivity Report (DPR). We publish updates to DUC estimates by region in a publicly accessible spreadsheet. In May 2021, the most recent month available, we estimated that the United States has about 6,521 DUCs in seven major tight oil and shale natural gas basins, up from about 4,425 DUCs in 2013, the earliest year in the data series. Nearly 40% of DUCs (or 2,616 DUCs) are in the Permian Basin, located in western Texas and eastern New Mexico.
We estimate that the U.S. DUC inventory peaked at 8,874 DUCs in June 2020. From June 2020 through May 2021, we estimate that DUCs declined by 27%, or by 2,353 DUCs. Since the COVID-19 pandemic began, exploration and production (E&P) companies have cut capital expenditures, deployed fewer rigs, and reduced oil and natural gas production in response to lower demand and lower prices. DUCs help operators produce oil and natural gas at a lower cost.”