Number Of U.S. Drilled But Uncompleted Wells Drops 27% In A Year

The number of drilled but uncompleted wells (DUCs) in the U.S. shale patch has declined by 27 percent since the peak in June 2020, the Energy Information Administration (EIA) has estimated. DUCs allow exploration and production companies to pump crude oil and natural gas at a lower cost, so it’s no surprise that the number of DUCs has dropped since the peak in June 2020. Back then, operators shut in production because of the low oil and natural gas prices and the crash in global oil demand in the pandemic. E&P firms have tightened spending…