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Vaca Muerta Update – YPF S.A.

YPF S.A. · Mar 17, 2014 · 35 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Vaca Muerta Update – YPF S.A. – slide 1
    Vaca Muerta Update March 17th, 2014.
  2. Vaca Muerta Update – YPF S.A. – slide 2
    Contents 1 Unconventional Development: General Overview 2 Increased Productivity: Sweet Spot Identification 3 Increased Productivity: Horizontal Well 4 Well Construction Cost Reduction 5 Principal Challenges for a large…
  3. Vaca Muerta Update – YPF S.A. – slide 3
    Shale concept 4
  4. Vaca Muerta Update – YPF S.A. – slide 4
    Opportunities in Shale / Tight Formations Tested & Producing Other Opportunities 4,4 Vaca Muerta (shale oil / gas) Noroeste - Cretaceous NOROESTE Yacoraite Area 30,000 km2 (shale / tight oil & gas) CHACO PARANAENSE Noroeste -…
  5. Vaca Muerta Update – YPF S.A. – slide 5
    Argentina has the resources to increase production Oil Potential Gas Potential (Bbls) (Tcf) NOROESTE CHACO 29 PARANAENSE 4.4 CUYANA NEUQUINA GOLFO 27 802 SAN JORGE AUSTRAL Conventional Conventional (Oil 3P +…
  6. Vaca Muerta Update – YPF S.A. – slide 6
    Similarity to the US case Gas Production (Tcf) Gas Imports (Tcf) Source: EIA 2012 Energy Outlook 7
  7. Vaca Muerta Update – YPF S.A. – slide 7
    Vaca Muerta vs. other unconventional resource plays Desired Vaca Muerta Barnett Haynesville Marcellus Eagle Ford Wolfcamp TOC (%) 2 3-10 4-5 0.5 - 4 2 - 12 3-5 3 Thickness (m) 30 30-450 60 - 90 60 - 90 10 - 60 30 - 100 200 - 300…
  8. Vaca Muerta Update – YPF S.A. – slide 8
    High Quality Oil & Gas Characteristics Pres.= 550 650 kg/cm3 at 2,800 m API: 35 50 Pb: 120 200 kg/cm3 GOR: 100 500 m3/m3 Bo Pb: 1.5 1.9 Viscosity Pb: 0.3 0.8 cP No H2S, Minor CO2 M3/mm3 Bbl/mcft Plant C2 445.25 79.29…
  9. Vaca Muerta Update – YPF S.A. – slide 9
    Continuing exploration focused in Vaca Muerta Drilling or in Completion 2014 Drilling Campaign Progress in extended Drilled as of 31/01/2014 basin-wide delineation Oil Wet gas Hold the shale Dry gas acreage Increase the…
  10. Vaca Muerta Update – YPF S.A. – slide 10
    The next development clusters Loma Campana Unconventional Development (395 km2) The Vaca Muerta Shale Exploratory delineation has enabled YPF to define three additional core areas with short to medium term feasibility of…
  11. Vaca Muerta Update – YPF S.A. – slide 11
    Bajada de Aelo - Bandurria - La Amarga Chica Area Summary LACh.x-3 850 km2 defined by the YPF operated areas 5 oil producing vertical wells 1 well in completion BA.x-2 Light oil production (33 to 49API) LCav.x-4 Wet gas is…
  12. Vaca Muerta Update – YPF S.A. – slide 12
    Narambuena - Bajo del Toro Area Summary 250 km2 defined by the YPF operated areas 2 oil producing vertical wells 1 well to be drilled (slant geometry) Light oil production (35 to 37API) 230 to 320 m thick (Vaca Muerta high TOC…
  13. Vaca Muerta Update – YPF S.A. – slide 13
    El Orejano - Pampa de las Yeguas I Area Summary 105 km2 defined by the YPF operated areas 1 gas producing vertical well (connected to gas line) PdY.x-1 1 gas/condensate vertical well (flowback test) El Orejano block in the initial…
  14. Vaca Muerta Update – YPF S.A. – slide 14
    Unconventional: Increase in Activity Investment growth Important Activity Increase Investments (MM USD) Drilling Rigs 19 17 1,124 9 4 Apr 2012 Dec 2012 Dec 2013 2014 YTD Wells in Production 380 161 142 59 42 2012…
  15. Vaca Muerta Update – YPF S.A. – slide 15
    Unconventional: Increase in Production Oil (bbls/d) Gas (km3/d) 14.000 800 700 12.000 600 10.000 500 8.000 400 6.000 300 4.000 200 100 2.000 0 0 Wells in production 161 Current production 20,000 boe/day 16
  16. Vaca Muerta Update – YPF S.A. – slide 16
    Project Economical Feasibility 2 Main Drivers to Reach an economical development Increased Productivity Well Construction Cost Reduction Improve subsurface understanding Casing Drilling Techniques Identify the Sweet Spots Local…
  17. Vaca Muerta Update – YPF S.A. – slide 17
    Contents 1 Unconventional Development: General Overview 2 Increased Productivity: Sweet Spot Identification 3 Increased Productivity: Horizontal Well 4 Well Construction Cost Reduction 5 Principal Challenges for a large…
  18. Vaca Muerta Update – YPF S.A. – slide 18
    Hydraulically fractured vertical well productivity Cumulative oil 55000 production, bbl 50000 45000 40000 35000 D 3,000 bbl 30000 25000 2011 Avg (15 wells) 20000 2012 Avg (10 wells) 15000 2013 Avg (103 wells) 10000…
  19. Vaca Muerta Update – YPF S.A. – slide 19
    High Identifying the sweet spots: Workflow for identification of sweet spots Reservoir Quality Porosity Water saturation Permeability Reservoir quality (RQ) TOC Mineral content Room for Sweet Maturation improvement spot Pore…
  20. Vaca Muerta Update – YPF S.A. – slide 20
    2013 Results: Sweet Spot Economic View Pozos Vaca Muerta y Quintuco LLLN y LCm - PA 2013 High 2505600 2506400 2507200 2508000 2508800 2509600 2510400 2511200 2512000 2512800 2513600 2514400 2515200 2516000 2516800 2517600 2518400…
  21. Vaca Muerta Update – YPF S.A. – slide 21
    Hydraulically fractured vertical well productivity at the sweet spot Cumulative oil 55000 production, bbl 50000 45000 D 16,000 bbl 40000 35000 30000 25000 2011 Avg (15 wells) 20000 2012 Avg (10 wells) 15000 2013 Avg (103…
  22. Vaca Muerta Update – YPF S.A. – slide 22
    Contents 1 Unconventional Development: General Overview 2 Increased Productivity: Sweet Spot Identification 3 Increased Productivity: Horizontal Well 4 Well Construction Cost Reduction 5 Principal Challenges for a large…
  23. Vaca Muerta Update – YPF S.A. – slide 23
    Previous experiences with horizontal wells in Loma Campana 500 SOil.a-2h LLL-514h LLL-523h 400 LLL-534h Oil rate, bbl/d LLL-546h 300 Hztl P50 Hztl P90 200 100 0 - 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20…
  24. Vaca Muerta Update – YPF S.A. – slide 24
    New Approach for Horizontal development Multidisciplinary team approach: YPF / SLB / Von Gonten Microseismic monitoring to: Observe frac growth Be prepared to take proactive actions Tackle ashbed/conductivity losses with increased…
  25. Vaca Muerta Update – YPF S.A. – slide 25
    Microseismic monitoring from SOil-6: plan view Stage 24 N S 200 m
  26. Vaca Muerta Update – YPF S.A. – slide 26
    Horizontal well performance including SOil.-4h 600 Oil rate, bbl/d 500 SOil.a-2h 500 SOil-4h 400 LLL-514h 400 300 LLL-523h 200 LLL-534h 300 LLL-546h Oil rate, bbl/d 100 Hztl P50 0 0 5 10 15 20 25 30 35 40 45…
  27. Vaca Muerta Update – YPF S.A. – slide 27
    Deliverability Comparison SOIL 4H 2300 Eagleford Well A (1.1 MMbbl EUR) 6100 Normalization on Eagleford Well B (0.27 MMbbl EUR) 3300 Stimulated Length Eagleford Well C (0.45 MMbbl EUR) 8500 Infinite-acting linear flow (SOIL 4H)…
  28. Vaca Muerta Update – YPF S.A. – slide 28
    Contents 1 Unconventional Development: General Overview 2 Increased Productivity: Sweet Spot Identification 3 Increased Productivity: Horizontal Well 4 Well Construction Cost Reduction 5 Principal Challenges for a large…
  29. Vaca Muerta Update – YPF S.A. – slide 29
    WELL COST Drilling & Completion USD 12 11.00 10.20 USD 11 EQ/SITE COMPLETION DRILLING Millions USD USD 10 8.10 USD 9 7.60 USD 8 USD 7 3.1 stg/well 4.5 stg/well USD 6 4.8 stg/well USD 5 5 stg/well USD 4 USD 3 USD 2 USD 1…
  30. Vaca Muerta Update – YPF S.A. – slide 30
    Drilling: Time Improvements 50 45 43.2 40.3 40 35 31.7 Drilling Days 30 24.6 25 20 15 10 5 0 2011 2012 2013 2014 YTD Implemented Initiatives: Future Opportunities: MPD / UBD Operational Procedure Widespread use of…
  31. Vaca Muerta Update – YPF S.A. – slide 31
    Completion: Costs Improvements USD 1,60 Millon USD per stage USD 1,40 USD 1,20 USD 1,00 OTHERS USD 0,80 PROPPANT USD 0,60 FRAC USD 0,40 USD 0,20 USD - 2011 2012 2013 2014 YTD Implemented Initiatives: Future…
  32. Vaca Muerta Update – YPF S.A. – slide 32
    Contents 1 Unconventional Development: General Overview 2 Increased Productivity: Sweet Spot Identification 3 Increased Productivity: Horizontal Well 4 Well Construction Cost Reduction 5 Principal Challenges for a large…
  33. Vaca Muerta Update – YPF S.A. – slide 33
    Principal challenges for a large development Enhance development economics + Increased Productivity Improve subsurface understanding Identify the Sweet Spots Optimize completions Successful horizontal development + Well Construction…
  34. Vaca Muerta Update – YPF S.A. – slide 34
    Principal challenges for a large development Design a sustainable development + Minimize the environmental impact Multiwell Rig Pad (Rigs fit for purpose) Optimize Water and Sand logistics (Minimize truck transportation) Pipe…
  35. Vaca Muerta Update – YPF S.A. – slide 35
    NUESTRA ENERGA

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