Barclays Shale Oil Technical Teach In GREG LEVEILLE Chief Technology Officer March 20, 2018
United States Oil and Natural Gas Production History Million BOE per Day Unconventional Reservoir Related Production Growth 25 1972 Peak U.S. 20 Conventional Production 15 2005 10 5 0 1860 1875 1890 1905…
U.S. Oil Production is at Record Levels; Texas Leading the Way U.S. Oil Production Texas Oil Production (Million BO per Day) (Million BO per Day) 10.04 U.S., Russia, 10 4.5 Saudi Arabia 9.63 Iraq 9 4.0 3.93 Canada Iran China…
Volume of U.S. Unconventional Resources is Extraordinarily Large U.S. Historical Oil & Gas Production and Unconventional Resources (Billions of Barrels of Oil Equivalent) 700 High Case 600 Other SCOOP/ STACK 500 Bakken…
Horizontal Drilling & Fracing have Enabled Unconventional Revolution U.S. Well Trajectories Horizontal Fracturing Techniques Fracturing Intensity 100% 100% Open Hole Pump & Pray 2012 2017 90% Horizontal 90% 80% 80% 3.5 MM lbs. 15.5…
Technical Knowledge Enables Rapid Improvement in Completion Design Stimulated Rock Volume (SRV) Insights Per Well Production Volumes ConocoPhillips Eagle Ford SRV Pilot: Wellbore Side View SRV Understanding Enabled Vintage 4 Vintage…
Adding Resources by Refracing Wells with Early-Vintage Completions Refrac Incremental Production Example Refrac Cost Example Daily Production (boepd) Actual Pre-Refrac Forecast 2015 2017 8
Longer Laterals and Tighter Spacing & Stacking Significantly Increased Lateral Lengths Eagle Ford Increased Well Density Example (Gun Barrel View Showing Number of Well Layers) 2010 2017+ Austin 50% of wells Chalk 7,500…
Longer Laterals: Driving Capital Efficiency by Recovering More for Less Long Lateral Well Performance Example Long Lateral Advantages Long Lateral REDUCED TOTAL DRILLING COST Daily Production MBOE REDUCED FACILITIES COST…
The E&P Industry is Also Undergoing a Digital Technology Revolution ConocoPhillips Data Analytics Approach ConocoPhillips Eagle Ford Results Unconventional Advantages 50% REDUCTION Rapid, Low Cost Experimentation Data Data IN…
2016 Daily Production (Million Barrels Oil Equivalent) 25 United States 20 Russia 15 Saudi Arabia U.S. without Unconventionals 10 Iran Canada 5 China All other countries produce 5 million BOE per day or less 0 Sources: BP…
Even with Considerable Technical Progress to Date More to Come Further digital and data analytics advancements Enhanced Oil Recovery (EOR) ENHANCED RECOVERY Additional discoveries; additional sweet spots Rate Base Oil Rate,…
ConocoPhillips is an Industry Leader in Unconventional E&P Unconventional Resources Montney BRITISH COLUMBIA 15 BBOE 8 BBOE 40-50/BBL UNCONVENTIONAL 30-40/BBL MONTANA Bakken NORTH CONVENTIONAL…
Key Takeaway Messages Unconventional revolution has rejuvenated U.S. E&P industry Concurrent digital and data analytics revolution World-class discoveries plus rapid technology advancements Expect additional progress in…
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