US DUC well numbers hit record high

The record high number of shale wells that have been drilled but not completed in the US could put a dampener on oil price gains The record high number of shale wells that have been drilled but not completed in the US could put a dampener on oil price gains.
By Peter Stewart 19 April 2018 0 30508
A US shale gas well. A shale gas well in the Marcellus formation. (Helge Hansen/Statoil)

The number of drilled-but-uncompleted shale wells (DUCs) in the United States reached a record high in March 2018, according to a monthly report by the US Energy Information Administration (EIA). There were 7,692 DUCs in the US in March, up from 7,598 in February and 4% higher compared with the end of 2017, the April Drilling Productivity Report (DPR) showed. The latest figure reflects a rise of nearly 29% in the number of DUCs compared with a year earlier. 

The huge backlog of...

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