RE:Article on US drilling... Up 60% in the last year JD, 100% correct. Remaining DUC's are the scraps left over...less production out of those wells.
Too many issues...and out of time.
JohnnyDoe wrote: This is a solid article. All stuff we've seen on the board in dribs and drabs but this article ties it in nicely. Reality is drilling is way up from the year prior BUT it needs to increase roughly 50% from here to get to prepandemic levels. BUT what's not mentioned in the article is any discussion about forward looking drill targets being as sweet as historically drilled target. Reality is you drill your best stuff first and they've made Swiss cheese out of the permian. Drilling levels will need to be above pre pandemic levels to get back to pre pandemic level production and that's going to be a challenge with labout shortages and supply chain issues
https://oilprice.com/Energy/Crude-Oil/US-Drilling-Activity-Has-Risen-60-In-One-Year.html