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Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc.

PDC Energy, Inc. · Apr 15, 2013 · 16 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. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 1
    Horizontal Development in the Wattenberg from a Small Operators Perspective April 15, 2013 NASDAQ: PDCE
  2. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 2
    Introduction This presentation is targeting the smaller Wattenberg Operator that is just getting started or considering horizontal development plans in the future. Though PDC Energy is the third largest producer and lease holder in…
  3. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 3
    Project Considerations & Initiation Financial Considerations Why should you drill horizontal wells in Wattenberg Greater returns/higher profitability IRR of 40% 140%(1) Typical EURs from 300 to 500 MBoe Strong repeatable…
  4. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 4
    Project Considerations & Initiation Pad and Well Considerations Drill site considerations Larger pad size to accommodate drilling equipment, number of wells to be drilled, water needs for completion operations (5 to 10 acres) Tank…
  5. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 5
    Project Considerations & Initiation Down spacing impact to vertical well production Communication from horizontal frac Impact on the present value of the well Vertical wellbore integrity Impact on horizontal reserves Increase in…
  6. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 6
    Drilling Considerations Rig type Fit for purpose or conventional Rig availability may dictate Conventional rigs work fine/modifications Mud system Water base mud Reaming Polymer beads Closed loop with no reserve pit…
  7. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 7
    Drilling Performance First 20 Wells with a Conventional Drilling Rig Conventional drilling rig operating at 9 days spud to TD; 13 days spud to spud 4/15/2013 8
  8. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 8
    Potential Drilling Issue Codell Horizontal Drilling Profile Staying in Zone Stages 2-4 in Carlile Lost gas 4/15/2013 9
  9. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 9
    Completion Considerations Packer & Sleeve Diagram Casing design consider premium grade tubular & connections Packer & sleeves versus plug and perf PDC has done both with similar results Frac design Fluid type X-link gel, slick…
  10. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 10
    Completion Considerations Contingent on spacing, complete all wells on multi well pad before flowing back & producing wells Water logistics Availability & access Water volume needed 60,000 to 80,000 bbls per well 240,000 to…
  11. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 11
    R & D Considerations Technologies 3D seismic Image Log in horizontal wellbore showing faults Micro-seismic Fracture Mapping and micro-seismic fracture mapping 3-well pad Horizontal well logging Frac fluid tracer chemicals…
  12. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 12
    Down Spacing Ideally, the minimum number of wells drilled within a spacing unit to efficiently and economically drain the reservoir. Number of wells needed is dependent on: Permeability Porosity Thickness Extent Frac size…
  13. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 13
    Down Spacing Tools to help Determine Spacing Micro-seismic fracture mapping & reservoir modeling Help determine height and width of frac stages Micro-seismic shows possible room for down spacing Reservoir modeling to understand…
  14. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 14
    Down Spacing Tools to help Determine Spacing Tracer & IonTracer Spaur 31W-214 Concentrations vs.vsTime & Ion Concentration Time The Completions Diagnostics Company ProTechnics 400 16000 350 14000 Total Tracer…
  15. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 15
    Down Spacing PDC Current Well Spacing 8 wells per 320 acres Alternating Codell & Niobrara Laterals about 335 apart Using tracers & fracture mapping 4/15/2013 16
  16. Horizontal Development in the Wattenberg from a Small Operators Perspective – PDC Energy, Inc. – slide 16
    Questions 4/15/2013 17

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