E&P operators have some scores to settle in the Bakken, Niobrara—and every other oil and gas play—as commodity prices gradually begin to hoist those dormant wells back into profitability.After a two-year dry spell for oil prices, the number of drilled but uncompleted (DUC) wells has remained above 5,100 since February 2015. On average, 2014 had 4,079 wells-a-waiting—a number that rose to 5,121 in 2015 and 5,265 last year.But E&Ps in the Lower 48 are planning to attack their backlog, particularly in the Rockies, where DUC inventories have soared as oil prices made wells uneconomic and industry sentiment—and money—shift toward the Permian Basin. Companies in the region have made strides in lowering costs and increasing recoveries as the downturn forced them to get better, faster and cheaper.
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