Bloomberg On The Comebakken -- June 20, 2018

This might be the best summary of the Bakken I've seen in a long time. Archived. When I saw the headline I feared the worst -- especially coming from Bloomberg. I was pleasantly surprised. To the reader who sent me the article, my only observation:

Wow, talk about a great article. The only data point that surprised me was Bloomberg's comment about DUCs. Obviously Bloomberg is correct and I am wrong, but I have not seen that statistic before -- "month's supply of DUCs."

• April, 2017, one year ago; waiting on completion: 830; unchanged from the end of April to the end of May
• April, 2018 (most recent data): DUCs, waiting on completion: 942, up 26 from the end of March to the end of April 

The spike in DUCs at the Bloomberg chart correlates with the two years that Saudi Arabia made their trillion-dollar mistake. From 2015 to 2017, Saudi maximized production to try to crush US shale; US shale operators responded in various ways, including more DUCs.

But the number of DUCs, month-to-month in the Bakken has stayed fairly stable over the past two years. Bloomberg did not address the number of inactive wells in the Bakken -- increasing in numbers as more and more wells are being fracked. Neighboring wells are taken offline when a new well is being fracked.

Without an additional waiver, Bakken operators are now routinely allowed two years to complete a well. Prior to the Saudi Surge, Bakken operators had to complete a well within one year of spud.

A screenshot of the Bloomberg article:

*********************************************

Renewables

Link here.

Where's solar PV? Where's wind? Where's Waldo?