Remember This Number: 620,000 -- May 1, 2019

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Remember This Number: 620,000 -- May 1, 2019

620,000.

That's the number of miles of new oil and gas wells that will be drilled over the next five years.

Source: Rystad Energy, via Rigzone.

Number of wells, onshore / offshore, globally, to be drilled this year (2019): 65,000.

Number should be stable though 2023.

Off-shore: number of operators is now more diverse than ever.

From the linked article:
Earlier this month, Rystad Energy revealed that free cash flow for public exploration and production companies “skyrocketed” last year to almost $300 billion.
“For these players, 2019 could turn out to be another blockbuster year,” Rystad Energy said in a company statement at the time.
Miles to the moon: 238,900 miles

Round trip, or as they say in the UK, "return": 477,800 miles.


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