Statoil US Onshore Jefferies Global Energy Conference, November 2014 Torstein Hole, Senior Vice President
US Onshore competitively positioned 2013 Eagle Ford Operator 2012 Marcellus Operator Williston Bakken 2011 Bakken Operator Stamford Marcellus 2010 Eagle Ford Austin Eagle Ford Houston 2008 Marcellus 1987 Oil trading, New York…
Premium portfolio in core plays Bakken 275 000 net acres, Light tight oil Concentrated liquids drilling Production 55 kboepd Eagle Ford 60 000 net acres, Liquids rich Liquids ramp-up Production 34 koepd Marcellus 600 000 net…
Shale revolution: just the end of the beginning Entering mature phase companies with sustainable, responsible development approach will be the winners Statoil is taking long term view. Portfolio robust under current and forecast price…
Statoil taking operations to the next level Ensuring our operating model is fit for Onshore Operations Doing our part to maintain the companys capex commitments Leading the way to reduce flaring in Bakken Not just reducing costs…
The application of technology Continuous focus on cost, Fast-track identification, Prioritised development of efficiency and optimisation of development & implementation of potential game-changing operations short-term technology…
Increased value from well manufacturing Total well cost 90% of upstream capex Drilling time reductions per well from 2012 to 2013: Drilling cost reductions margin leverage 35 BAKKEN per well from Q1 2012 to Q4 2013: 32 31 -25% 29…
Sometimes, you have to spend more to make more In Bakken and Eagle Ford we have intentionally increased our D&C spending to implement techniques that increase recovery Bakken: increasing our D&C costs by 10% - and increasing our…
Bakken: Slickwater completions Slickwater design is double flow rate, and 3-4 times total volume. Proppant about the same. Cumulative Production In most areas, results are better to significantly better. Next step is to test…
Eagle Ford: Rapid Improvement Injection Shift to Rotary Steerable tools = more precise well placement = increased EUR STO with RSS 90% in zone, vs 60% previously Decrease in Stage spacing = 25% increase in stages = 20% increase in EUR…
Eagle Ford: Step Change in Drilling Efficiency Continued improvements in cycle time n Talisman t Statoil Best well drilled in 15 days: thought to be our theoretical perfect well Feet per Day The next well was even shorter (12.7…
Summary Relentless focus on efficiency and improvement YOY reduction of 10% in Capex for the same activity Increasing recovery within corporate CAPEX frame Evolving operating model to continue improvements in our operations. 12
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