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Wednesday, December 16, 2020

Number Of DUCs Not Decreasing In The Bakken, Permian -- December 16, 2020

Note: the numbers in the spreadsheet below were transcribed from another source. It was difficult to read the chart and some of my numbers may be incorrect. I believe the most important columns ( the number of DUCs for the Bakken and the Permian) are accurate.

One of the most common memes regarding DUCs this past year was that the oil companies were making a major effort to complete DUCs to maintain production. 

The reader and I did not see that in either the Bakken or the Permian. Note the first column, month/year. 

Since January, 2020:

  • DUCs in the Bakken:
    • relatively stable, but did decrease from 843 (January, 2020) to 806 (November, 2020);
    • it matters which months you compare: from January, 2020, to July, 2020, the number of DUCs actually increased
  • DUCs in the Permian:
    • relatively stable, but DUCs actually increased from 3,409 (January, 2020) to 3,516 (November, 2020)

Bakken

Drilled

Completed 

DUCs

Permian

Drilled

Completed

DUCs

Jan 14

178

143

605

Jan 14

581

590

650

Dec 14

224

194

732

Dec 14

634

577

1041

Jan 17

62

52

781

Jan 17

352

259

1297

Dec 17

77

65

733

Dec 17

473

382

2034

Jan 18

107

72

768

Jan 18

487

403

2118

Dec 18

108

70

741

Dec 18

537

416

2937

Jan 19

120

71

838

Jan 19

585

476

3046

Dec 19

94

86

884

Dec 19

449

453

3417

Jan 20

99

94

843

Jan 20

448

438

3409

Mar 20

94

108

824

Mar 20

460

442

3447

Jul 20

18

25

860

Jul 20

149

101

3562

Oct 20

19

32

818

Oct 20

141

156

3536

Nov 20

20

32

806

Nov 20

148

168

3516

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