PacWest in E&P Magazine on Future of CT Market

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CT services demand days will continue to grow into 2018, according to the July 2014 E&P Magazine article in which PacWest discusses the future of the market. They note, ”as lateral lengths continue to increase, snubbing units will capture a larger share of completion-related demand from CT. CT and snubbing units offer a number of advantages over traditional workover rigs, including the ability to perform maintenance operations on a live well.”

PacWEST2 CT article

FIGURE 2. CT services demand days as shown by tier are expected to grow through 2018 by 3% year-on-year. (Source: PacWest)

Increased efficiencies a driver as the articles continues, “More efficient frack operations and the push to reduce surface equipment use have resulted in the reduction of billable CT days. “Batch” fracturing operations on multiwell pads will drive this shift as one of the largest enablers of frack efficiency gains.”

In the first quarter of 2014, 72% of wells were completed either in a batch operation with a zipper frack (fracking wells in series) or back-to-back (fracking wells in parallel). More than 60% of wells in the Bakken, DJ Basin, Eagle Ford, Fayetteville, Marcellus and Utica were drilled on pads in the first quarter.

With respect to efficiencies, PacWest estimates batch completions on multiwell pads have reduced hydraulic fracturing days per well by approximately one day in plays such as the Eagle Ford, Marcellus and Granite Wash.

Full article available at: http://www.epmag.com/item/Trends-shift-North-American-international-CT-markets_135155

 

 

PacWest Research on Frac Sand Cited in Fox Business News

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PacWest Research cited in July 1st Fox Business News interview with Emerge Energy CEO on demand for sand. Emerge, the top performing Energy MLP IPO for 2013, has doubled capacity for 2014 based on market estimates and as they continue to see a spike in drilling & frac sand demand. PacWest research notes that, frac sand accounts for over 93% of NAM proppant market (by mass); and sand continues to be the dominant proppant – it has consistently been used in 94-97% of wells between 11Q1 and 14Q1.

http://video.foxbusiness.com/v/3654008743001/growth-in-fracking-boosts-demand-for-sand/#sp=show-clips

PacWest Publishes New Global and North America Shale Resources Maps

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View

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our newly updated shale resources maps for North America and Global Unconventional Resources at http://pacwestcp.com/education/regional-maps/.

Maps include information on basins, gas, and oil/liquid plays.

PacWest_NA__2014_300dpi

Permian Basin Gains Fracturing Efficiency

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Chris Robart quoted in the Midland Reporter on North American drilling and completion activity.

“When you look at the Permian Basin, compare it to other maturing basins or even maturing plays, the proportion of multi-well pads with three, four or five wells on one pad where all are fractured at once, when you look at the Permian Basin compared to other plays, it’s far lower than, say the Marcellus or Bakken,” said Chris Robart, a partner in PacWest Consulting Partners. “We expect that to step up for the rest of 2014.”

Robart also explains in the article that the market is seeing an increase in infrastructure, including rail, that are critical to ensuring the availability of material, like

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frac sand and other bulk items. That, he said, will help decrease costs by helping service companies manage their costs. Still, PacWest forecasts moderate price increases into 2016, the first seen since late 2011. Robart said those increases should be 2 to 3 percent.

For full article by Mella McEwen, see http://www.mrt.com/business/article_3ab16bc2-f808-11e3-a4f6-0019bb2963f4.html

Russia Plans for Developing Unconventionals

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Russia will likely partner with Western companies for them to provide the modern drilling and production gear for hydraulic fracturing in order to unlock its $8.2 trillion worth of barrels still underground.

Read full article at http://www.bloomberg.com/news/2014-06-16/russia-s-8-2-billion-oil-trove-locked-without-u-s-tech-energy.html

jthomas@pacwestcp.com

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