THE OCTG MARKET

摘要

Last month we reported that there wasa slight reduction in the overall DUC count andnoted that one month a trend does not make.In the latest EIA Drilling and ProductivityReport, the DUC count declined again – 43wells this time. Of the seven regions covered,there were declines in every region except theHaynesville and the Permian. There havebeen many discussions surrounding thecircumstances of DUCs. Are they a way to‘inventory’ future production? Take advantageof lower costs at different points in the cycle?Apply the absolute latest in completiontechnologies? Probably all of the above tosome extent. In this period of minimizing costsand maximizing production, it is just another cushion between the need to ramp upproduction and the acquisition of products,including OCTG, and services, to ramp updrilling providing a longer planning windowminimizing spikes in demand which removessome price pressure.