n. Gas or oil that is ready to be fracked, but remains in the ground pending higher petroleum prices.
"Fracklog" is the catchy neologism for the backlog of US shale wells that have been drilled but not yet brought into production.
—Ed Crooks, “Demystifying the 'Fracklog',” Financial Times, March 19, 2015
While shale-oil producers have cut plans for new drilling, many are employing new technology that allows for new wells to be drilled but not tapped. Essentially, U.S. energy companies are storing millions of barrels underground in lieu of in tanks and could add to global supply at a moment’s notice. The portmanteau of the moment for this “fracklog,” or unfracked wells.
—Chris Dieterich, “Crude Smackdown Resumes; Oil Hits Fresh Six-Year Low,” Barron's, March 18, 2015
2015 (earliest)
The backlog of unfracked wells — call it a fracklog — is one reason that U.S. crude output is poised to climb even as companies have idled more than a third of the rigs that were drilling for oil in October.
—Dan Murtaugh & Lynn Doan, “Introducing Fracklog, the New-Fangled Oil Storage System: Energy,” Bloomberg Business, March 05, 2015
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