There were an estimated 2,000 DUC wells in the US the last time I heard. What people don't realize is that this down turn has made oil companies (and service companies )even better at what they do. Wells that were drilled in 30 days 2 years ago are now down to 14. Couple that with a huge cost reduction on goods and services, and they can make it. Now, all of the associated costs will increase as the market recovers, but the efficiency gained in the last 2 years won't be lost. That could mean it will only take 2/3 of the rig count to drill the same number of wells.
But what the hell do I know....
You obviously know quite a lot.
