Hart Energy 2014 DUG Eagle Ford Conference Pioneers Eagle Ford Shale: A Legacy of Continuous Improvement Title Holder September 2014 September 16th, 2014
Pioneer At A Glance 11 BBOE Top U.S. Fields By Rig Count2 30 B 3.0 B YE 2013 Proved (Pioneer Operated Count in Green 41 rigs) Current 2014 Planned Reserves + Net Enterprise Value Drilling CapEx Resource Potential Gas 33% 176…
Pioneer is Positioned in the Sweet Spot of the Eagle Ford Shale IHS data Oct. 2013 PXD Dec. 2013 Pioneer Wells Oil Window Cumulative Production 1st 18 Month (boe) Top Quartile 2nd Quartile Pioneer Wells 3rd Quartile…
Pioneers Eagle Ford Shale by the Numbers Upstream Midstream Gross Acreage 215,000 Points of Delivery (PODs) 92 Rigs Running 8 Central Gathering Plants (CGPs) 11 Frac Fleets 3 CGP Capacity 116 MBOPD, 825 MMscfd Producing Wells 460…
Pioneer Shifted Focus to Field Optimization in 2012 Seismic & Microseismic Well Spacing E D X E P V Fracability L E Frac Modeling O L R O A P T M Maturity/Liquid Yield Predicted Stimulated Rock Volume I E O N N T 6
Pioneers Eagle Ford Shale Historical Drilling Cost Improvement 2011 2012 2013 Scaled up to full rig count Started pad drilling Primarily pad drilling Developed consistent drilling Improved drilling design and Implemented two string…
Shift to Pad Drilling in Eagle Ford Shale Improves Drilling Efficiency Drilling Days (rig release to rig release) 36 days 31 days 27 days 26 days 2011 2012 2013 1H 2014 % Multi-Well Pads 4% 37% 71% 100% All wells drilled…
Two-String Design Saves Material Costs and Time Typical Two-String Design Well Typical Three-String Design Well 24 20 conductor 24 20 conductor 17-1/2 13-3/8 casing 12- 1/4 9-5/8 casing 12-1/4 9-5/8 casing 5-1/2…
Eagle Ford Completion Optimization: 2012-2014 Optimized Designs Increased BPM/Cluster Increase the barrels of frac fluid pumped per minute per cluster from 11 BPM/cluster to 16 BPM/cluster Original Design 11 barrels of frac fluid…
Examples of Eagle Ford Shale Completion Optimization 20% to 30% EUR increase with minimal increase in drilling and completion capital Generating before tax returns of 100% on incremental capital spent Increasing BPM/Cluster…
The Importance of Effective Downspacing Wasted Capital and Inefficient Drainage Due to Frac Overlap 300 ft Overlap 200 ft Overlap 100 ft base Resource Left Behind as Fracs Too Far Apart 300 ft Stranded Resource 200 ft…
Well Spacing Tool Kit Microseismic & 3-D Seismic RA Tracers Chemical Tracers Chemostratigraphy (XRF) Oil & Gas Isotope Geochemistry Frac Models Pressure Interference Production Data Reservoir Modeling 13
Eagle Ford Shale Downspacing and Staggering Initially downspaced from 1,000 to 500 25% of acreage prospective for Upper Eagle Ford Shale between wells across liquids-rich acreage Added 300 locations Initial Upper target test Further…
Pioneers Eagle Ford Shale Production Growth1 Gross Production (MBOEPD) 135 126 111 82 35 4 2010 2011 2012 2013 Q1 2014 Q2 2014 Pioneer has grown gross Eagle Ford Shale production to 135 MBOEPD 15 1) Data represents…
Eagle Ford Shale Condensate Exports US Department of Commerce confirmed that condensate processed through a distillation unit (stabilizer) at PXDs Eagle Distillation Unit (Stabilizer) Ford Shale central gathering plants is a…
U.S. PADD III (Gulf Coast) Crude Imports Since 2005 Majority of the light crude imports have been displaced, but mediums may be stickier, which could put a ceiling on U.S. production growth Average API gravity of imported crude…
The Foreseeable Consequences of Inaction Producers will be forced to lay down rigs Production growth will stall and production will quickly decline A substantial portion of domestic natural gas production is associated with oil…
Banned Commodities Exports Only 3 commodities are included in the Export Administration Regulations Short Supply Control list1 Unprocessed Crude Oil Horses Exported by Sea Western Red Cedar Source: BIS Short Supply Controls…
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