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Wells Drilled Since Start Of 2014 Provided Nearly Half Of Lower 48 Oil Production In 2015

Interesting article showing 50% of U.S production is from wells less than 2 years old.

My takeaway on this is that the U.S supply is much more variable than people think. Most of these new wells are LTO with high decline and need constant capex.

There is still money going into drilling as well as the DUC's, but we'll need a lot of activity just to keep things flat.