Replies to post #108236 on Coffee Sipping Big Board Stocks

[timhyma]

The number of oil wells in North Dakota that have been drilled but not fracked surpassed 1,000 for the first time in September, as producers wait for prices to recover before turning them on. As a result, more than 8% of oil wells in North Dakota are now sitting idle, harming the industry's ability to grow production; daily output in the state fell 2% in September to about 1.16M bbl/day. The backlog is "sending a definite signal to the market that oil and gas operators are not willing to do a lot of drilling or hydraulic fracturing or production at these low prices," said Lynn Helms, director of the state's Department of Mineral Resources. Related tickers: CLR, HES, EOG, WLL, XOM, OAS, NOG, EOX, MRO