Just a general question. Does anyone know what the average time for completion of a well is in Weld County, Colorado? From the first notice of drilling to production? Or to some other milestone.
Well it tool about 3 months for a well in Texas where mine is.
It it takes only a couple of weeks to complete a well after its been drilled. However, there is something called DNC, which means Drilled Not Completed.
This essentially allows the operator to store reserves underground until the price points improve.
Another way of looking at it is that operators have an inventory of wells waiting to be completed, which some call fracventory.