Tuesday, March 22, 2022

DUCS -- Update -- March 22, 2022

From a reader, thank you very much.

The Bakken: drilled, completed, and drilled but not completed (DUCs). Note:

  • just before the pandemic lock down, January, 2020, the high of 843 DUCs;
  • one year later, January, 2021, the number of wells drilled in one month, down to 20;
  • DUCs: at a record low -- most recent data
  • may not be entirely accurate, but close:
    • wells completed in February, 2022: 75
    • DUCs completed in February, 2022: 13
    • total number of wells completed: 88
    • percent of DUCs/total wells completed: 15%

Month / Year

Bakken


Drilled

Completed

DUC

Dec-13

--

--

570

Jan-14

178

143

605

Jan-17

62

52

781

Jan-18

107

72

768

Jan-19

120

71

790

Jan-20

99

98

843

Jan-21

20

41

756

Feb-21

19

24

751

Mar-21

25

47

729

Apr-21

27

52

704

May-21

29

68

665

Jun-21

31

52

644

Jul-21

32

62

614

Aug-21

39

70

583

Sep-21

41

79

545

Oct-21

42

78

509

Nov-21

45

73

481

Dec-21

50

73

458

Jan-22

51

73

436

Feb-22

62

75

423

 The Permian: drilled, completed, and drilled but not completed (DUCs). Note:

  • just before the pandemic lock down, January, 2020, the high of 3,413 DUCs;
  • amazingly, drilling did not drop as fast in the Permian as it did in the Bakken;
    • the drilling lows came in January, 2021
  • DUCs: at a record low -- most recent data
  • may not be entirely accurate, but close:
    • wells completed in February, 2022: 429
    • DUCs completed in February, 2022: 86
    • total number of wells completed: 515
    • percent of DUCs/total wells completed: 20%

Permian




Month / Year

Permian


Drilled

Completed

DUC

Dec-13

--

--

663

Jan-14

582

590

655

Jan-17

352

259

1,280

Jan-18

486

403

2,073

Jan-19

584

486

2,925

Jan-20

449

460

3,413

Jan-21

188

367

2,827

Feb-21

212

262

2,777

Mar-21

235

442

2,570

Apr-21

251

416

2,405

May-21

260

385

2,280

Jun-21

265

368

2,177

Jul-21

271

393

2,055

Aug-21

280

400

1,935

Sep-21

291

390

1,836

Oct-21

304

402

1,738

Nov-21

311

405

1,644

Dec-21

327

406

1,565

Jan-22

333

416

1,482

Feb-22

343

429

1,396

Not all months are shown, so the highs/lows could have been in other months, but one gets the general idea. 

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The Oil Patch

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