Patrick Schorn Executive Vice President, New Ventures Cowen & Company 7th Annual Energy & Natural Resources Conference New York, December 4, 2017
Market Fundamentals Upstream Capex versus Oil Production 100 700 Global production not yet fully 600 95 reflecting drop in E&P investment 500 90 85 400 Demand for oil remains strong billion MMbbl/d 300 with upward…
Light Tight Oil Revolutionized SupplyBut Limits Emerge 2008-2017 Global E&P Capex ( trillion) Forecast rates of production growth 1.1T Land unconventional slowing in the medium term All other E&P 4.2T Pursuit of growth now…
Investment Maintained in OPEC Gulf, Russia and US Russia 12% global supply OPEC and Russia production cuts have helped rebalance markets Rest of World has seen only limited investment since market bottom US tight oil FIDs for…
Market Drives New Technology Development in West Texas Pad Drilling Increasing Lateral Lengths Extending Evolution of Speed and Length 300 2014 100% 20% 2017 Rate of Pentration (ft/hr) 80% 15% 200 60% 10% 40% 100 5% 20%…
Transformation Improves Internal Efficiency in US Land Cost of Ownership Decreasing Tool Reliability Increasing -32% +17% 100 2,500 80 Hrs/Failure 60 1,500 % 40 20 500 0 0 TelePacer xBolt TelePacer xBolt Asset…
PowerDrive RSS Technology Drives Performance in US Land 7-Well Campaign for 80-Well Campaign for Eclipse Resources in Ohio Parsley Energy in West Texas 5,000 Measured Depth (ft) 10,000 +9% -17% -30% 15,000 20,000 First…
Transforming Completions and ProductionOneStim
Improving Asset Utilization and Reducing Unit CostOneStim Operations Planning Sand volume doubled since 2014 Asset utilization increased by 30% Global Traceability Unit cost reduced by 56%
Improving Reliability and EfficiencyOneStim Reliability Centered Maintenance Mean time between failures decreased by 55% Workforce productivity increased by 35% Prognostic Health Tools Transformation gains have enabled…
New Generation Hydraulic Fracturing EquipmentOneStim Activity since introduction in 2017 Stages completed: 3,732 Wells completed: 128 Operating time: 26,143 hours
Connecting E&P Workflows with Digital Enablement
DELFI Built on 25 Years of Software Technology Leadership 1990s 2000s 2010s Now Geoquest Systems Holditch Baker Jardine Technoguide GeonKnowledge IES Reservoir Tech PIPESIM PETREL GeoX CONSULTING Finder Graphics Merak Inside…
Digitally Enabled Well Construction Integrated Well Planning Drilling Technology Selection Monitoring and Analysis Drilling Operations
Fourth-Quarter Sequential Outlook Reservoir Characterization Group Lower Northern hemisphere seasonal reductions across several product lines and muted year-end multiclient and software sales Drilling Group Flat Higher drilling…
Summary The narrowing gap between oil supply and demand is leading commodity prices higher. We are increasingly positive on the outlook for our global business We continue to invest in our business, and our technology leadership…
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