Just a random thought.
On any given day, about four wells come off the confidential list. Of the four, about three are reported to be in DRL status (no IP provided).
DRL status means that the well has been on the confidential list for six months, and must now come off the confidential list. If the well has not been completed (fracked, in the majority of the cases), the operator is allowed to put the well on DRL status and keep it there until 30 days after the well is completed and tested.
Think about that.
The "confidential clock" starts ticking when the well is spud. Operators can now drill to total depth in less than a month. That means, at a minimum, when a well comes off the confidential list and is reported to be on DRL status, it has sat there for five months (and a few days in some cases) waiting to be fracked.
And then, for every 30 days that one does not see an IP reported, that is another month that the well has been sitting there waiting to be fracked.
Five months and another 30 days is six months -- two financial quarters. Half a year. That's a long time for investors (in some cases) to wait.