Oil and Gas Producers Inching Towards Tapping "Drilled But Uncompleted" Wells
From the Wall Street Journal:
U.S. oil and gas companies have drilled thousands of wells they have yet to tap, creating a ready reserve of fuel that could surge onto the market when energy prices recover.
As producers report quarterly earnings during the next few weeks, a question looms: When will they start exploiting these “drilled but uncompleted” wells?
While the industry often has an inventory of drilled wells awaiting completion, the backlog has grown significantly during the past two years as companies such as Continental Resources Inc. and EOG Resources Inc. deliberately delayed tapping wells to wait for higher energy prices.Read more by clicking here.
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