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Permian Drilling Trends: No. of DUCs on the Rise. Completions Decline Following Drillings
10/06/2022
The number of DUCs kept stable for quite a long time in the pre-pandemic years fluctuating between 380 and 480 at the peak. #completions were slowly declining through the months of 2019.
Both indices slightly decreased from August 2019 to April 2020 when they were counted at about 300.
Due to global pandemic in 2020 DUCs incredible soared to about 500 in July 2020 and completions plummeted to about 80 in July 2020.
After that, both indices began to stabilize and reached 280 DUCs and 230 completions in March 2021.
In November 2021 DUCs decreased to 220, while completions floated between 190 and 240.
A significant uptick in DUCs started in April 2022. It continues to grow to more than 430 recently, meanwhile, the number of completions is on the same level (about 200) but also declines.
Recent indices changes may indicate the negative producers’ expectations for the market to go over-supplied in 2023. This is in particular true for the NG supply outlook.
More #drill-down opportunities for the drilling activity #research are provided by Rextag's Pad Activity Monitor (PAM).
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Can Oil-Rich Texas Be a Clean Energy Titan: Sugary Sweet Attempt at Leading the Renewable Revolution
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/315_blog_Can Oil-Rich Texas Be a Clean Energy Titan Sugary Sweet Attempt at Leading the Renewable Revolution.jpg)
Texas is taking bold steps toward a future powered by clean energy. Once known mainly for its oil and gas, the state is now a leader in wind, solar, and battery storage. But as electricity demand grows, so do the challenges of balancing energy needs with infrastructure limits. Here’s a look at how Texas is transforming and what hurdles lie ahead + find out who works with Facebook’s parent company Meta on new technology across the U.S.
In Matador's Favor, For $75 Million Summit Sells Its Permian Midstream Assets
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/71Blog_Matador_Acquires_Summit's_Lane_G&P_System_06_2022.png)
Matador Resources Co. acquires a gathering and processing system for $75 million in New Mexico’s Eddy and Lea counties from Summit Midstream Partners LP, filling up Matador’s midstream portfolio in the Permian Basin. Matador reached an agreement with a subsidiary of Summit to gain Summit’s Lane Gathering and Processing System on June 9. Nowadays, the Lane G&P System combines a 60 MMcf/d cryogenic natural gas processing plant, three compressor stations, and about 45 miles of natural gas gathering pipelines. As an investor presentation says, Matador began its initial midstream build-out in the Delaware Basin in 2015-2016. Since then the company has extended its midstream footprint in the Delaware using the San Mateo I and San Mateo II joint venture partnerships with Five Point Energy LLC
Can Oil-Rich Texas Be a Clean Energy Titan: Sugary Sweet Attempt at Leading the Renewable Revolution
Texas is taking bold steps toward a future powered by clean energy. Once known mainly for its oil and gas, the state is now a leader in wind, solar, and battery storage. But as electricity demand grows, so do the challenges of balancing energy needs with infrastructure limits. Here’s a look at how Texas is transforming and what hurdles lie ahead + find out who works with Facebook’s parent company Meta on new technology across the U.S.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/313_Blog_New York's Race Against Time Can Solar and Wind Power Save the Big Apple from an Energy Crisis_.jpg)
Power Plants: 124955 MW Solar: 63726 MW Wind: 2204 MW Biodisel Plants: 1.5 Mmgal/yr capacity Source: Rextag Energy DataLink
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/312_Blog_America's Climate Plan Challenges and Hopes and Shift Away from Fossil Fuels .jpg)
The future once seemed optimistic for America’s climate ambitions, with rapid growth in renewable energy propelling the nation toward a cleaner, more sustainable future. However, a sobering reality has begun to sink in: despite some progress, the transition from fossil fuels is slowing down, and global emissions continue to rise.