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SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co.

Pioneer Natural Resources Co. · Sep 24, 2016 · 41 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. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 1
    The Wolfcamp Shale Technical Learnings to Date and Challenges Going Forward
  2. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 2
    Agenda Introduction to the Midland Flowback Management Basin Wolfcamp Shale Pad Drilling Strategies Completions Optimization 2
  3. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 3
    Largest Oil Fields Worldwide Total Recoverable Resource (BBOE)1 0 10 20 30 40 50 60 70 80 160 90 Ghawar, Saudi Arabia Spraberry/Wolfcamp, USA Burgan, Kuwait Safaniyah, Saudi Arabia Samotlorskoye, Russia Shaybah, Saudi…
  4. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 4
    The Permian Basin Wolfcamp Shale PEDERNAL UPLIFT & ROOSEVELT POSITIVE OZONA PLATFORM Basin DEVILS Basement RIVER Uplift UPLIFT Shelf Thrust Belt - Permian Basin composed of multiple uplifts and and basins that…
  5. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 5
    The Permian Basin Wolfcamp Shale 6
  6. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 6
    Wolfcamp Facies & Depositional Model Platform Carbonate Land Platform Carbonate Shelf Edge Carbonate Pelagic Sediments Clastic Detrital Slope Sediments & Reef Talus Fluvial - Deltaic Silt Cloud in Suspension Carbonate Debris…
  7. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 7
    Midland Basin Operators Well Net Operator Count Acreage Pioneer (PXD) 234 640,000 Apache 296 635,000 Devon 218 455,000 XTO 28 300,000 Oxy 38 200,000 EP Energy 199 175,000 Concho 46 147,180 Laredo 153 145,423 Approach 137 138,000 EOG…
  8. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 8
    Pioneers Spraberry/Wolfcamp Horizontal Drilling to Date 9
  9. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 9
    Pioneers Spraberry/Wolfcamp Horizontal Drilling to Date 10
  10. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 10
    Recent Middle Spraberry Shale and Jo Mill Horizontal Results 11
  11. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 11
    Wolfcamp B Peak 30-Day Rates, BOE/d Martin Howard Midland Glasscock Sterling Average Oil Rate During Peak 30 Days (bbl/d/7,000) Higher Gas/Oil Ratios Upton Reagan Irion Crockett 12
  12. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 12
    Production Growth Profiles For 3 Largest U.S. Oil Shale Plays 10,000,000 Includes Horizontal Wells Only Eagle Ford 192 Horizontal Rigs (down from 218 rigs in early 2013) 1,000,000 Gross Production (BOEPD) Bakken 160 Horizontal…
  13. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 13
    Spraberry/Wolfcamp Rig Count Counties: Andrews, Borden, Crockett, Dawson, Ector, Gaines, Glasscock, Howard, Irion, Martin, Midland, Mitchell, Reagan, Schleicher, Scurry, Sterling, Tom Green and Upton 350 58% Vertical Rigs 96%…
  14. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 14
    Spraberry/Wolfcamp Production History Includes Vertical and Horizontal Wells 650,000 610,000 600,000 550,000 500,000 Spraberry/Wolfcamp production has 450,000 increased 450,000 BOEPD since 2009 400,000 Production (BOEPD)…
  15. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 15
    Spraberry/Wolfcamp Horizontal Production Growth Profile PXDs 80 HZ Rig Growth Scenario PXDs 120 HZ Rig Growth Scenario PXD adds 5 HZ rigs/year for 10 years PXD adds 10 HZ rigs/year for 10 years Assumes strip pricing for oil & gas1…
  16. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 16
    Focus Areas of Pioneers 10-Year Growth Plan Optimized Marketing/ Development Plan Takeaway Gas Processing Procurement Pioneer is committed to optimal long-term resource development, while remaining an industry leader in safety,…
  17. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 17
    Completions Optimization 18
  18. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 18
    Completions Optimization Effect of Lateral Length on Well Performance Slickwater vs. Hybrid Treatments Offset Frac Interference Effect of Frac Order on Fracture Containment The Use of Geomechanics to Land Wells and Contain…
  19. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 19
    Effect of Lateral Length on Well Performance Trend line indicates Scale Factor 0.960 Individual well data Trend line indicates TrendFactor Scale line indicates 0.996 Scale Factor 0.83-1.05 Averages Averaged…
  20. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 20
    Hybrid vs Slickwater Peak 180 Day Oil / 7,000 BOPD Slickwater Hybrid BOPD / 7,000 The production in the first 180 days for hybrid and slickwater completions in the Wolfcamp B is very similar across SWAT acreage 21
  21. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 21
    Hybrid vs Slickwater Wolfcamp B Value Hybrid Slickwater Production Cost (M) 2,215 2,095 Operational Hybrid Slickwater Screen Out Frequency 5.0% 8.5% Stuck Pipe Frequency 3.3% 12.8% Strategic Hybrid Slickwater Water Usage…
  22. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 22
    Offset Frac Interference Daily Production, bbl/d Days on Production 23
  23. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 23
    Offset Well Fracs Slightly Impair Production 220 200 180 10% Drop in production due to offset fracs 160 140 Oil Rate, bbl/d 120 100 80 Average production from 41 well pairs with offset frac effects from 29…
  24. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 24
    Effects of Zipper Fracs & Simulfracs Completed Second Completed First Fracing as a pair appears to provide better frac efficiency Zipper frac & Simulfrac wells perform slightly better than offsets 25
  25. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 25
    Effect of Frac Order on Height Growth B2 Well B3 Wells Stimulation order led-off with the B2 followed WC-B2 by the B3. The B3 stimulation was not 265 contained by over-pressuring above. WC-B3 26
  26. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 26
    Effect of Frac Order and Frac Baffles on Height Growth 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% P impedance Event Histograms by Seismic Data depth Dean Set WC- A2 WFMP A1 Frac Baffle WFMP A2 WC- Fraced Height A3…
  27. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 27
    Using Impedence Data for Landing Laterals WFMP B1 WFMP B2 Drilled 10455 at 2492 / day with 1 BHA Typical B3 wells drill 1100-1200 / day GR TOC WFMP B3 CNL ROP ft/hr WFMP C1
  28. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 28
    Flowback Management 29
  29. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 29
    Pressure Dependent Permeability - Matrix Barnett Wolfcamp Eagle Ford k/ki Wolfcamp matrix permeability is significantly less sensitive to pressure drawdown than other shale plays Pore Pressure, psi 30
  30. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 30
    Stress Dependent Permeability Propped Fracture 31
  31. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 31
    Wolfcamp B FBHP & GOR BHP GOR increases as BHP drops below the bubble point Pb Hourly flowback GOR THP 32
  32. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 32
    Objectives Determine how drawdown management effects production in Wolfcamp horizontals Does aggressive flowback degrade well performance Investigate with reservoir simulation Test various declines of flowing bottom-hole pressure…
  33. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 33
    Flowing Bottom Hole Pressure Sensitivity 5,000 Initial Reservoir Pressure 4,500 4,000 Extended time above Pb: 3,500 Keeps gas in solution in reservoir Preserves relative permeability to oil in matrix 3,000 Conservative…
  34. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 34
    Simulation Results 240 240 220 Aggressive 220 Conservative 200 Conservative_Extended Time Above Pb 200 180 180 Oil Cum 160 160 Oil Rate (STB/Day) Oil Cum (MSTB) 140 140 120 Aggressive drawdown provides max 120…
  35. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 35
    Field Pilot Pressure Build-Up Analysis Aggressive Drawdown Conservative Drawdown No skin factor 1000 1000 Skin damage P r e s s u r e [ p s i] P r e s s u r e [ p s i] 100 100 0.01 0.1 1 10 100 0.01 0.1 1 10 100…
  36. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 36
    Field Pilot Pressure Build-Up Analysis Choke Removed - Oil productivity improved beyond expectations - Watercut increased significantly 37
  37. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 37
    Pad Drilling Strategies 38
  38. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 38
    Pad Drilling With Stacked Laterals Same-zone drilling multiple zones Stacked Multi-zone Basket Weaving an Iron Curtain 1 2 3 39
  39. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 39
    Minimizing Wellbore Deviation and Dog Leg Severity 40
  40. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 40
    Three Area Rig Cycle 41
  41. SPE Liquids Rich Basins Conference – Pioneer Natural Resources Co. – slide 41
    Pad Drilling Strategy 42

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