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Tuesday, August 23, 2011

Uncompleted Well Count Continues To Rise

I've been beating this dead horse for about six months: uncompleted wells continue to rise.

Link here.
The number of oil and gas wells either waiting for completion or for access to pipeline in the onshore United States continues to increase, as operators allocate billions in additional capital for domestic development programs.
In the past two days along, nine wells in North Dakota came off the confidential list, and only one had been completed.

I 've been saying fifty percent of wells reaching total depth are not being completed within six months, but it appears I am being too optimistic.

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