RigData Insights

Platts RigData Quarterly Well Count Report

  • Thursday, October 12, 2017
  • Posted By Meagan Wildfong

The just released Platts RigData Quarterly Well Count report is showing an increase in the number of days spent per well when compared to the average of all new wells quarter over quarter.

 

“This increase is more of a function of where wells are being drilled than actual drill times,” reports Platts RigData senior industry analyst, Gerad Dugas. “The number of wells drilled increased in plays where drill times are longer. In contrast, some plays with shorter drill times saw a decrease in their quarterly well count.”

 

For example:

-It takes around 30 days to drill a well in the Wolfcamp. There was an increase of 54 new well starts.  Even though the number of days spent per well in the Wolfcamp decreased by -2 quarter over quarter, the additional wells with longer drill times adds to the total.

-On the opposite end we can look at the Eagle Ford where it takes around 15 days to drill a well. There was a quarterly decline in new well starts of -106.  The loss of these wells with shorter drill times negatively affected the overall days per well.

 

This is found in other plays for US onshore activity.

 

Request a complimentary copy

 

The Platts Rig Data Quarterly Well count is available at no charge. To receive a copy of this dataset please call 1-800-371-0083 or email CustomerService@RigData.com.

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