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Thousands of oil, gas wells are drilled but untapped in U.S.

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The Wall Street Journal notes that there are thousands of drilled but untapped oil and gas wells in the United States:

"U.S. oil and gas companies have drilled thousands of wells they have yet to tap, creating a ready reserve of fuel that could surge onto the market when energy prices recover.

"As producers report quarterly earnings during the next few weeks, a question looms: When will they start exploiting these “drilled but uncompleted” wells?

" ... Federal estimates show the number of such wells in the nation’s seven most prolific drilling regions stood at 5,069 in September, up from 3,768 in January 2014, before oil prices began falling."

Read the full story here.


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