SCOOP-STACK production rises on increased DUG utilization

摘要

Crude oil production from the two plays in the US state of Oklahoma peaked at 488K b/d in 2019.Meanwhile,the rig count at SCOOP-STCK fell from 100 rigs at the start of the year to 44.Additionally,Enverus's drilling data shows that production from the region is expected to grow by 7% at the same time rigs counts have fallen by over 60%.Last year,operators made significant draws from their built drilled-but-uncompleted(DUQ inventories,which is strategy that operators such as Encana and Continental Resources have used and will allow SCOOP-STACK's production to grow by UK b/d,according to Platts Analytics.The practice of using DUCs will taking rigs offline is believed to reduce exploration costs by 25-30%.