The number of Drilled but Uncompleted Wells sank to its lowest level ever recorded, according to the Energy Information’s latest Drilling Productivity Report published on Monday. The number of Drilled but Uncompleted Wells—also known as DUCs—fell to 4,273 in March 2022, according to the latest figures. This is down from 42% since the beginning of 2021. The falling DUC count is due to more fracking than drilling—depleting their DUC inventories rather than drilling new wells is typically more cost effective. As shareholders continue to demand great fiscal restraint even in today’s higher oil-price environment, DUCs would naturally be favored. With more than 4,000 DUCs still active, it may seem like there is little cause for concern, even with losing nearly 50% of the DUC inventory since the beginning of last year. But that DUC count has long been debated. Not due to the accuracy of the figure itself, but […]