RE:try againWell completions are what matter. From 17-19, companies were drilling an excessive numbers of wells and not bringing them online very quickly. So they are partially ready to go. Over the last 18 months, they have been heavily eating into that inventory to bring wells online at a lower cost because drilling is done. Driling activity is still way below where it was.
All this suggests that the costs to complete a well will go up because you will have to drill and complete in the future. It will also take more time because you have to drill and complete. This is bullish for oil prices overall.