Next year’s well completions may boost US oil and gas

By Peter Stewart 19 December 2016
The US has more than 5,000 wells drilled but not completed, meaning production could be in for a boost if the oil market rebalances in 2017. (PA) The US has more than 5,000 wells drilled but not completed, meaning production could be in for a boost if the oil market rebalances in 2017. (PA)

Oil and gas production in the United States could see a boost next year from wells that have been drilled but not completed because of the prevailing low price environment.

More than 5,000 wells have been drilled in US shale basins but not completed. If the oil market rebalances in 2017 – as is widely expected because of growing demand and OPEC production cuts – it would incentivise production from these so-called DUC (drilled-but-uncompleted) wells. This would potentially boost US oil and gas production.

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