Why Mines is a Source of Petroleum Technology Investment Opportunities Dr. William W. Fleckenstein Enercom Oilfield Technology & Innovation Day August 17, 2017
2 Technology Investment Opportunities 1. Funding for an early stage startup 2. License Mines technologies 3. Traditional funded research
3 World Class Research Facilities More than 230 million has been invested in new buildings, facilities and other capital investments between 2006-2014. In addition, the 50 million CoorsTek Center for Applied Science and…
4 Focus On Technology Development 63.8 million - total research awards in 2015, roughly half funded by non-federal sources Materials Science Program - an atom probe Colorado Center for Advanced Ceramics
5 Student And Faculty Aspirations are Changing Demand for entrepreneurial and innovation experiences Facebook and Google anyone Mines Makerspaces SpaceX Hyperloop pod competition
6 Changing the Industry Landscape with Emerging Technologies at Mines
7 Fleckenstein IP 1. Method and Apparatus for Testing a Tubular Annular Seal (US 9,624,764) Annular Casing Seal Test (ACST) 2. Downhole Tools and Methods for Selectively Accessing a Tubular Annulus of a Wellbore (US 8,991,502) -…
8 The First Opportunity FracOPTIMAL2 Multistage hydraulic fracturing of horizontal wells is at the heart of the shale development. Two primary methods of multistage fracturing are used: Plug and Perf Frac Sleeves Frac Sleeves…
9 FracOPTIMAL with a Flapper Flapper Seals Seals Seals Spring Spring Spring Open Port to Closed bore Open Port to Closed bore to tubular to tubular Open Port to Open bore to annulus annulus annulus tubular annulus annulus…
10 FracOPTIMAL2 no Flapper 1. FracOPTIMAL2 uses a single sized ball. 2. Unique 2-pressure tool operation: 1. A high pressure is used to pass the frac ball through a sleeve until the correct sleeve is reached. 2. Once the correct…
11 FracOPTIMAL2 Passes a Ball 1. Ball approaches and lands in the sleeve. Drop Member 2. Operator applies a high pressure 3. Retaining fingers flex and the ball passes
12 FracOPTIMAL2 Actuates to Frac 1. Ball approaches and lands in the sleeve. Drop 2. Operator applies a low pressure and time Member 3. Hydraulic oil passes from one side of piston through orifice to the other. Sleeve…
13 The Second Opportunity In the US alone, 20,000-40,000 wells are drilled every year Nearly every one of these wells is drilled through an aquifer Citizens and regulators are demanding that the aquifers be protected. The…
14 The Annular Casing Seal Test (ACST) Patent US 9,624,764 There is no test routinely run and accepted by regulators in use in the US to test the annular cement seal of surface casing. US BLM proposed a Cement Bond Log (CBL) with…
15 The ACST Operation Aquifer Float Collar Test Pressure ACST 5 10 Shoe
16 The Competing Alternatives Casing Shoe Tests LOT & FIT Casing Shoe Tests (there are two) Leak-Off Tests (LOT) are used to determine the ultimate strength of the formation below a casing shoe. Formation Integrity Tests (FIT)…
17 The Competing Alternatives Cement Bond Logs (CBL) 1. A CBL can only be run above the effective bottom of the casing. Aquifer 2. Bond logs take longer and cost more 3. Bond logs are subject to more interpretation The only…
18 ACST Markets Surface casing seal assurance to protect aquifers Deeper, intermediate casing seal assurance for well control Seal assurance and monitoring in injection wells
19 Can We Build It Capstone DesignMines
20 Can We Build It Meet Reed Baker PE Masters Student Ex NOV and Baker
21 Can We Test It and Detect a Channel
22 More Opportunities in Pipeline Downhole Rotator (patent pending) Application in downhole tractors Horizontal plug drill out assist Extended reach wells Pig Prop new method of proppant
23 Genesis of a Mines Startup Dr. William W. Fleckenstein, PE (CA1666) Faculty Member since 2000 30 years experience Petroleum Eng. Dept. Head (2012-2014) SPE Distinguished Lecturer Drilling, Completion and Workover experience on…
24 Investment Opportunities Funding for early stage start up Build and market ACST Support Design Teams to prototype: FracOPTIMAL2 Downhole Rotator Identify and promote promising technologies on campus SBIR participation…
25 Contact Information Dr. Will Fleckenstein Petroleum Engineering 303.384.2030 wfleckenmines.edu Dr. Will Vaughan Director of Technology Transfer 303.384.2555 wvaughanmines.edu