1,500 Eagle Ford Wells Waiting to Be Completed?

Research Analyst are Throwing Out Estimates of 1,000 to 1,500 Well Awaiting Completion

Are there really as many as 1,500 wells sitting idle until a completion crew arrives on the scene? Comments regarding the size of well backlogs is coming up more frequently. At Bentek’s Benposium a few weeks ago the comment was made that Marcellus production would grow through the end of the year even if operators stopped drilling. Wow.

We’re in a similar situation in the Eagle Ford. If you carry the trend forward, the play will be approaching 2,500 producing wells by the end of June 2012. Add a well backlog of 1,000-1,500 and you see why analyst are raving about production growth. Estimates of 1,100-1,200 are the most common, but we’ve seen 1,500 mentioned by the most bullish analyst. [Read more…]