Drilling & Completions | Top Story | Exclusives / Features | Drilling Activity | Capital Expenditure - 2021
Operators Poised to Accelerate Drilling & Completions in 2H 2021
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Shale Experts analyzed first quarter data from a select group of E&P companies and the findings are below.
First, we looked at spending in the first quarter of 2021 vs prior years going back to 2012. What is surprising is that E&Ps only spent, on average, 20% of their planned full year budget so far this year.
In prior years, the average amount spent by the end of 1Q21 was about 30%. The only recent year that shows similarities to 2021's spending patterns is 2016 - see charts further below.
D&C ActivityAs for drilling and completion activity, numerous operators have only completed ~20% of their planned wells for the year, which means that we will likely see a very active 2H21 in terms of D&C activity.
As for which plays will see the most activity - the Permian, Bakken and Eagle Ford ar…
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