Does anyone know why Aethon has drilled, but not completed, so many haynesville/bossier wells across East Texas? Enverus (Drilling Info) is showing there to be 50+ wells that they've drilled in 2023 that haven't been completed. A large portion of these wells were spud in early 2023. I'm assuming this is due to natural gas prices and/or pipeline issues, but I've never known them to do such until this year.

Any ideas?

Thanks,

Richard

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The price of natural gas.  As long as Aethon and/or Black Stone are meeting all their contractual obligations, they will want to delay completing those DUCs.  Mineral lessors should want that also.  Since these wells produce 75 to 80% of their lifetime volume in the first 24 months, nobody wants to have half or more of those best production months fall in periods of depressed prices.  Not long ago, many industry spokespersons and O&G pundits were suggesting that 2024 would see improved prices.  Now that's looking kind of iffy.

Yes, I agree. The future is not looking as bright as it was a few months ago. Thanks for the response.

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