Don't Buy This
Its also exactly what shale pundits do with DUCs. DUC's imply prudent use of CAPEX and...nimbleness. Nobody using their own money would drill a DUC and sit on it for years while deeply in debt.
Analysts have a hard time permanently planting the goal posts on DUC's. We've determined that lag time between spudding a well and first production reported by State regulatory agencies is often six to eight months. Because of the new, simu-fracing thing it can take three months, or more, between the time the long string is cemented on 1-H well and the 1-H thru 4-H wells are all frac'ed on the same pad and another 3 or 4 months to hook up, flow back stabilize and file completion reports. If these wells appear to sit idle for more than a couple of months some folks call them DUC's.
Novi data thru October of 2025 showed 820…
I'm not buying this. Most campaigns have a few drills, being followed by the same frac spread. They are chasing each other from pad to pad. They frac the pad, and off to the next. It is a game of leapfrog. At most a couple days behind. Frequently the water tanks are omitted and it's big hose running to many pads all over the bloody place from a central. Way less moves. Coil crew on frac and another following after to shift sleeves ready to produce. This huge game of industrial musical chairs is a work of art, and never stops. I doubt there is 2 weeks from spud to jacks, Lower Shaunavon and Duvernay anyway. Can't see it whole lot different, but I'm not an analyist