Chart of the Day: Vienna! This Means Nothing To Me

Economist

Richard Iley

Thematic (Sector/Industry)

United states Energy / Thematic (Sector/Industry)

The EIA's latest data show that Drilled but Uncompleted (DUCs) wells in the shale sector a.k.a. the 'fracklog' continued to climb in June, hitting a fresh all-time high. Remember that DUCs are wells that have been drilled by producers, but have not yet been made ready for production. The number of DUCs necessarily has implications for the price elasticity of US shale supply. The higher the number of DUCs, the more supply that can arrive rapidly in response to any increase in prices. Think of…

The EIA's latest data show that Drilled but Uncompleted (DUCs) wells in the shale sector a.k.a. the 'fracklog' continued to climb in June, hitting a fresh all-time high. Remember that DUCs are wells that have been drilled by producers, but have not yet been made ready for production. The number of DUCs necessarily has implications for the price elasticity of US shale supply. The higher the number of DUCs, the more supply that can arrive rapidly in response to any increase in prices. Think of…

Oil: DUC Season