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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ENERGY
The number of US drilled-but-uncompleted oil and gas wells (DUCs) fell to the lowest on record in November by 83 to 4,415 according to the EIA.
- The decline suggests shale producers are aiming to use easy, quick-turnaround wells to bring production online sooner and is reflected in the US production growth seen this year.
- The decline is driven by the Bakken of North Dakota falling by 15 and Eagle Ford in south Texas by 17.
- EIA forecasts record output in 2024 as producers bring more wells online despite predicting a drop in output from the seven US shale basins in January for a third straight month.
- Shale production has increased this year despite the number of drilling rigs falling by 20% in the period with higher yields due to improved technologies.
Source: EIA / Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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