Short Answer
After funding, site prep and drilling commence, then the rig releases to completion crews. Completions typically take one to five weeks. First sales occur once facilities are ready and pipeline or trucking is scheduled.
What It Means to an Investor
Sequence and durations vary by basin and lateral length. Key milestones are pad build, spud, TD, casing, frac, flowback, facilities, connection, and purchaser pay cycles. Build conservative first‑sales and pay timing into your plan.
