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All the DUCs in a Row: Natural Gas Production in U.S

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  • Douglas Mugabe, Levan Elbakidze, and Tim Carr

Abstract

Using data from seven shale gas regions in the United States, we examine natural gas production in terms of drilling rig activity and well completion rates. Our objective is to examine the determinants of well completion decisions in the U.S. natural gas production. We observe that in recent years, the explanatory power of drilling rig count has declined. On the other hand, the number of producing wells remains a significant factor for explaining the variation in gas production. We find that an increase in the number of drilled but uncompleted wells (DUCs) plays a significant role in natural gas supply. The number of DUCs depends on drilling rig activity and futures prices of oil and natural gas. Also, our results indicate that well completion decisions and the duration of DUC status depend on oil and gas prices, pipeline capacity, producing well type and well depth.

Suggested Citation

  • Douglas Mugabe, Levan Elbakidze, and Tim Carr, 2021. "All the DUCs in a Row: Natural Gas Production in U.S," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 113-132.
    • Handle: RePEc:aen:journl:ej42-3-elbakidze
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    Cited by:

    1. Ali, Muhammad Kashif & Zahoor, Muhammad Khurram & Saeed, Asif & Nosheen, Safia & Thanakijsombat, Thanarerk, 2023. "Institutional and country level determinants of vertical integration: New evidence from the oil and gas industry," Resources Policy, Elsevier, vol. 84(C).
    2. Pastor, Daniel J. & Ewing, Bradley T., 2022. "Exploding DUCs? Identifying periods of mild explosivity in the time series behavior of drilled but uncompleted wells," Energy, Elsevier, vol. 254(PB).

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    JEL classification:

    • F0 - International Economics - - General

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