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Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
Benchmarking Resource Plays
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Benchmarking Resource Plays

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Technical Luncheon Presentation to the Canadian Society for Unconventional Resources, Feb 15_2012

Technical Luncheon Presentation to the Canadian Society for Unconventional Resources, Feb 15_2012

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  • 1. Canadian Society for Unconventional Resources:Technical LuncheonFebruary 15, 2012BENCHMARKINGRESOURCE PLAYSImplications for Exploitation &DevelopmentMike Seifert, P. Geol.Canadian Discovery Ltd.
  • 2. AGENDA Introduction What is a Resource Play Benchmarking Process  Western Canada Overview  Montney  Slave Point  Integrated Analysis: Carrot Cr and Rat Creek
  • 3. WHAT IS A RESOURCE PLAY?“A play is a family of pools and/or prospects that share a common historyof hydrocarbon generation, migration, reservoir development and trapconfiguration.A RESOURCE PLAY is a special category ofplay which implies the use, or potential use,of advanced drilling and/or completiontechnology to make it economic.Although specific wells may be exceptions, generally speaking aRESOURCE PLAY is deemed to be historically uneconomic on a regionalbasis without the use of advanced technology.” Ed Fogg, Canadian Discovery Ltd.
  • 4. RESOURCE PLAY DEF’N Requires Extensive Stimulation to Produce Produces Little In-situ Water Does Not Exhibit an Obvious Seal or Trap Low Matrix Permeability (< 0.1 mD)SPEE Monograph 3 “Guidelines For The Practical Evaluation of Undeveloped Reserves in Resource Plays”
  • 5. WHY BENCHMARK?Internal AnalysisCompetitor AnalysisTechnologies and MethodologiesLogisticsAcquisition & DivestituresFinancial Metrics
  • 6. RESOURCE PLAYS IN WESTERN CANADA Average Stages Completed / Year2520 200615 2007 200810 2009 2010 5 2011 0 Bakken Cardium Horn River Montney
  • 7. RESOURCE PLAYS IN WESTERN CANADA Average Completed Length25002000 20061500 2007 20081000 2009 2010 500 2011 0 Bakken Cardium Horn River Montney
  • 8. RESOURCE PLAYS IN WESTERN CANADA Average Frac Spacing350300250 2006 2007200 2008150 2009100 2010 201150 0 Bakken Cardium Horn River Montney
  • 9. RESOURCE PLAYS IN WESTERN CANADA Average Proppant / Stage (t)250200 2006150 2007 2008100 2009 201050 2011 0 Bakken Cardium Horn River Montney
  • 10. RESOURCE PLAYS IN WESTERN CANADA1200 $1,800 IP BOE/d (6:1) $1,6001000 Completion Cost $1,553 $1,400 ($K/Stage)800 $1,200 $1,000600 $800400 $600 $337 $400200 $11 $114 $200 0 $0 Bakken Cardium Horn River Montney Average IP (BOE/D) & Completion Cost ($K/Stage) 2010 / 2011 Wells
  • 11. Number of Wells by Resource Play Group 6,000 Horn River Gas Montney/Doig Gas Montney/Doig Oil 5,041 5,000 Deep Basin Gas Slave Point/Swan Hills Oil Glauconitic Hoadley Gas 3,860Number of Wells 4,000 Cardium Oil Viking Oil Shaunavon Oil Bakken/Torquay Oil 3,000 Spearfish/Amaranth Oil Emerging Oil Emerging Gas 2,000 1,922 1,753 1,000 0 2008 2009 2010 2011 Year
  • 12. Completions Investment ($M) by Resource Play Group 8,000 $7.9 billion Horn River Gas Montney/Doig Gas 7,000 Montney/Doig Oil Deep Basin Gas 6,000 Slave Point/Swan Hills Oil Glauconitic Hoadley Gas $5.5 billion Completion Cost (million $) Cardium Oil 5,000 Viking Oil Shaunavon Oil Bakken/Torquay Oil 4,000 Spearfish/Amaranth Oil Emerging Oil Emerging Gas 3,000 $2.5 billion $2.0 billion 2,000 1,000 0 2008 2009 2010 2011 Year
  • 13. RESOURCE PLAYS IN WESTERN CANADAIncreasing StagesIncreasing Well LengthDecreasing Frac SpacingProppant Bakken Decreasing Montney Increasing
  • 14. NORTHERN MONTNEY Source: CDL EDGE
  • 15. NORTHERN MONTNEY STAGES COMPLETED16141210 8 6 4 2 001/06/2008 18/12/2008 06/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 01/04/2012 PROGRESS BONAVISTA CANBRIAN TALISMAN
  • 16. NORTHERN MONTNEY COMPLETED LENGTH (m)2500200015001000 500 0 01/06/2008 18/12/2008 06/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 01/04/2012 PROGRESS BONAVISTA CANBRIAN TALISMAN
  • 17. NORTHERN MONTNEY Completion Cost / Stage ($K)12001000 800 600 400 200 0 01/06/2008 18/12/2008 06/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 Bonavista Canbriam Progress Talisman
  • 18. NORTHERN MONTNEY IP GAS (mcf/d)12000100008000600040002000 0 01/06/2008 18/12/2008 06/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 01/04/2012 PROGRESS BONAVISTA CANBRIAN TALISMAN
  • 19. NORTHERN MONTNEY 6 MO. CAL GAS RATE / STAGE (mcf/d)12001000 800 600 400 200 0 09/09/2008 18/12/2008 28/03/2009 06/07/2009 14/10/2009 22/01/2010 02/05/2010 10/08/2010 18/11/2010 26/02/2011 06/06/2011 PROGRESS BONAVISTA CANBRIAN TALISMAN
  • 20. NORTHERN MONTNEY IP GAS (mcf/d) 6 Mo Cal Gas Rate (mcf/d)12000 1200010000 100008000 80006000 60004000 40002000 2000 0 0 0 50 100 150 200 250 300 350 Average Proppant / Stage (t)
  • 21. NORTHERN MONTNEY TOTAL FLUID PUMPED(m3)500004500040000350003000025000200001500010000 5000 0 0 50 100 150 200 250 300 350 Average Proppant / Stage (t)
  • 22. NORTHERN MONTNEYUSE OF CLUSTER FRACS No Yes
  • 23. North Montney SummaryTALISMAN VS PROGRESS Longer Well Lengths More Stages / Well Greater Cum Production
  • 24. SLAVE POINT Source: CDL
  • 25. SLAVE POINT STAGES COMPLETED 35 30 25 20 15 10 5 010/10/2006 22/02/2008 06/07/2009 18/11/2010 01/04/2012 EVI OTTER JUDY CR. ETHEL SWAN HILLS SWAN HILLS SOUTH
  • 26. SLAVE POINT Completed Length (m)200018001600140012001000 800 600 400 200 0 06/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 01/04/2012 EVI OTTER JUDY CR. ETHEL SWAN HILLS SWAN HILLS SOUTH
  • 27. SLAVE POINT COMPLETION COST / STAGE ($K)600500400300200100 010/10/2006 22/02/2008 06/07/2009 18/11/2010 01/04/2012 EVI OTTER JUDY CR. ETHEL SWAN HILLS SWAN HILLS SOUTH
  • 28. SLAVE POINT IP OIL (bop/d)600500400300200100 006/07/2009 22/01/2010 10/08/2010 26/02/2011 14/09/2011 EVI OTTER JUDY CR. ETHEL SWAN HILLS SWAN HILLS SOUTH
  • 29. SLAVE POINT OTTER IP (bopd) EVI IP (bopd) OTTER 6 Mo Rate (bopd) EVI 6 Mo Rate (bopd)25020015010050 0 0 10 20 30 40 50 60 Average Proppant / Stage
  • 30. SLAVE POINT SLAVE POINT OIL RATE BY FIELD25020015010050 0 OTTER EVI JUDY ETHEL SWAN SWAN CR HILLS HILLS S. IP OIL (bopd) 6 Mo Rate (bopd) 12 mo Rate (bopd)
  • 31. SLAVE POINT SLAVE POINT OIL CUMS BY FIELD70605040302010 0 OTTER EVI JUDY ETHEL SWAN SWAN CR HILLS HILLS S. 6 Mo. CUM OIL (mbo) 12 Mo. CUM OIL (mbo) 18 Mo. CUM OIL (mbo)
  • 32. Slave Point SummaryEVI JUDY CREEKProppant No Proppant~$125/stage ~$150/Stage12 Stages 15 Stages400 – 500 m 1,000 mGEOLOGY MATTERS
  • 33. CARDIUMRat Creek / Carrot Cr Source: CDL Cardium Overview Study, 2010
  • 34. CARDIUMRat Creek / Carrot CreekDetail: Minimum Principal Stress , Pembina Field T52 T46 R13 R7W5M Source: Stress Analysis Study, RPCL & BJ, 2005 + Frac Database
  • 35. CARDIUM Rat Creek / Carrot Creek Carrot Creek vs. Rat Creek 25 20ATTEMPTED STAGES 15 Carrot Creek Rat Creek 10 5 0 0 5 10 15 20 25 ACTUAL STAGES
  • 36. CARDIUM Rat Creek / Carrot Creek Well Count vs. Completion Problem Time 30 24 25 23 20Number of Wells 15 14 Carrot Creek Rat Creek 10 9 6 5 5 3 1 0 <10% 10-30% 30-50% >50% Estimated Completion Problem Time (%)
  • 37. CARDIUM Rat Creek / Carrot Creek Initial Production vs. Base Fluid and Energizer 250 12 15 200 14 12 CARROT CREEK - N2AVERAGE IP (BOPD) 150 14 CARROT CREEK - UNENERGIZED 44 100 2 RAT CREEK - N2 3 13 RAT CREEK - UNENERGIZED 50 0 Oil Slickwater Water BASE FLUID
  • 38. Cardium Horizontal3-Month Initial Production Rate Map Base map generated with ArcMap ™
  • 39. Carrot Creek vs. Rat CreekHz Wells - type Prod decline curves Data Source IHS Energy
  • 40. Average IP Rate by Wellbore Orientation 46 - Number of Wells Data Source IHS Energy
  • 41. CARDIUM Rat Creek / Carrot CreekRat Creek Higher StressOperational FailuresBase Fluids & EnergizersCDD Article “Stressed Out in the Cardium”
  • 42. Acknowledgments:• Meridee Fockler, P.Geol. • Daniel LaPlante• Ally Masoud • Aliyyah Mohamed, B.A.• Matt Baird • Neil Watson, P.Geol.• Heather McCrank, MBA, CMA • Kevin Rakhit, B. Sc. • Razan Das, E.I.T.• Peter Singbeil, P. Eng. • John Siferd, R.E.T.• Don Waters, P.Eng. • Andrea Nawolsky, C.E.T. • Jean Beriault, P.Eng.

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