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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.
Kingston Midstream Secures Deal to Acquire Clearwater Assets from Rangeland Midstream Canada
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/184Blog_Rangeland Energy Divests Canadian Pipeline to Kingston Midstream.png)
Rangeland Energy has agreed to sell Rangeland Midstream Canada to Kingston Midstream Alberta and remains committed to future Canadian midstream investments. Texas-based Rangeland Energy, supported by financial partner EnCap Flatrock Midstream, has inked a deal to sell its Canadian subsidiary, Rangeland Midstream Canada Ltd., to Calgary's Kingston Midstream Alberta Ltd. for cash.
The green trend: TC Energy pledges to be carbon-free by 2050
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TC Energy, the Canadian gas giant, recently announced its environmental, social, and governance goals, as well as emission reduction strategies. The company aims to become 100% emission-free by 2050 while promising to cut greenhouse gas emissions intensity from its operations by 30% by 2030 as an interim measure.
Rangeland Energy has agreed to sell Rangeland Midstream Canada to Kingston Midstream Alberta and remains committed to future Canadian midstream investments. Texas-based Rangeland Energy, supported by financial partner EnCap Flatrock Midstream, has inked a deal to sell its Canadian subsidiary, Rangeland Midstream Canada Ltd., to Calgary's Kingston Midstream Alberta Ltd. for cash.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/187Blog_ONEOK Completes Acquisition of Magellan Midstream.png)
The merger between ONEOK and Magellan received approval from Magellan shareholders, securing just 55% of the total votes at Magellan’s meeting on Sept. 21. ONEOK Inc. has successfully concluded the acquisition of Magellan Midstream Partners LP on Sept. 25. The deal will bring together their respective assets and expertise, resulting in a powerful entity boasting an extensive network of approximately 25,000 miles of pipelines primarily focused on transporting liquids.
![$data['article']['post_image_alt']](https://images2.rextag.com/public/blog/186Blog_Viper Energy Secures $1 Billion in Permian.png)
Viper Energy's deal, comprised of cash and equity, secures an additional 2,800 net royalty acres in the Midland Basin and 1,800 in the Delaware Basin. Viper Energy Partners LP, a Diamondback Energy Inc. subsidiary, has inked a deal to acquire mineral and royalty interests in the Permian Basin. The deal, valued at around $1 billion, is with Warwick Capital Partners and GRP Energy Capital. Viper was established by Diamondback with the purpose of owning, purchasing, and capitalizing on oil and natural gas assets in North America, specifically targeting mineral and royalty interests.