U.S. Oil Production

[dan_s]

The trillion-dollar reason why Joe Biden won’t ban fracking . Forbes . Opinion.
Electoral and energy realities caught up with Joe Biden last week. On Monday, in a speech in Pittsburgh, the Democratic presidential nominee said “I am not banning fracking. Let me say that again: I am not banning fracking.” Biden’s declaration has gained lots of attention from the Trump campaign and various media outlets. But his acknowledgment of the importance of hydraulic fracturing is a recognition of practical politics, the critical role that natural gas now plays in the U.S. electric grid, and how the shale revolution has saved consumers at least $1 trillion over the past decade.

U.S, shale recovery leans on huge inventory of DUCs . Rystad Energy .
The recovery of fracking operations in the US is happening largely thanks to an unusually high inventory of drilled but uncompleted wells (DUCs), which is strong enough to sustain the current level of fracking without the industry adding more rigs to expand drilling deep into 2021, a Rystad Energy analysis shows. After DUCs run out, however, rig activity in the five key oil regions needs to be in the 280-300 range to maintain flat oil output. < They are referring to the number of completion crews running. Keep in mind that from November to March we had over 700 rigs drilling for oil and over 325 completion crews running and U.S. oil production was on slow but steady decline. Today there are only 85 completion crews running..