What is the “new normal” for the number of drilled-but-uncompleted wells in a sub-300 rig count market? How large is the excess backlog of DUCs, and will this drive a recovery in frack activity before drilling activity improves? Richard and John address these questions and other topics including:
The factors that could delay working down the DUC inventory
How soon/how much completion activity might improve this year
What types of companies benefit as the frac market recovers