页岩气Finding the Core_Doug v2.pptx

1、Shale Gas Finding The Core,March 2010 Beijing, China Doug Weaver Commercial Manager Global Exploration and New Ventures,US Shale Gas PlaysOnly six are “Prolific” to date,2,Marcellus,Fayetteville,Woodford,Haynesville,Barnett,Eagle Ford,Identifying the CoreHaynesville Shale Example,3,Play Area Origina

2、lly Prospective 25,000,000 Acres Current Core 2,000,000 Acres,Play,Core,Identifying the CoreMarcellus Shale Example,4,300,000 Wells have been drilled in the Basin 6000 Marcellus penetrations,Play,Cores,Area Originally Prospective 50,000,000 Acres Current Cores 7,000,000 Acres,Many operators = ineffi

3、cient exploration,Original Extent of the Marcellus Shale Play 50 Million Acres,Two Core areas emerging after 200-400 Shale targeted wells drilled,Identifying the CoreBarnett Shale Example,5,CORE,Area Originally Prospective 6,000,000 Acres Current Core 1,300,000 Acres,Play,Mcfpd,Wells Order Drilled,C

4、ambrian ShaleWhere will the Core be?,6,?,?,?,?,Fayetteville ShaleDid BP miss the Main Core?,7,Main Core Higher Proportion of High rate wells, Larger Core,Secondary Core Area where BP farmed into Chesapeakes Acreage,Phases of Shale Exploration,8,Existing Data Collection Well logs Seismic Reprocessing

5、 Analysis,Drilling Stratigraphic Tests Vertical Wells with fracs Horizontal Wells with fracs Analysis,Regional Evaluation,Drilling,Drilling Evaluation Sequence,Play DevelopmentNarrow down to Play Area of Interest,10,Play,Data Availability,Low,Increasing,Example :Geological Papers,High,Play Developme

6、ntValidate Play Concept (5-10 wells, depending on size of play),11,Play,Data Availability,Low,Increasing,Some Well and Seismic Data,High,Play DevelopmentIdentify the Core (20 -200 wells, depending on size of play),12,Play,Data Availability,Low,Increasing,More Wells and Flow Tests,High,Shale Plays Wi

7、de Variation in Well Productivity,13,Range Resources 155,000 bbls 2.4 MM lbs 4200 lateral 1st 30 day avg= 6.0 MMCFPD,Range Resources 154,000 bbls 2.4 MM lbs 3900 lateral 1st 30 day avg= 1.2 MMCFPD,Range Production in small section of Tarrant County,Range Resources 72,000 bbls 0.85 MM lbs 4100 latera

8、l 1st 30 day avg= 7.6 MMCFPD,Shales are statistical plays based on the spread of IPs and EURs,Barnett Example,Chevrons Goal In Shale Gas Create a Substantial Business,14,If Haynesville Type Shale 2500 Wells,If Barnett Type Shale 5700 Wells,Chevron 49% Interest,Gross Production,Gross Production,1200

9、Mmcfpd = 3400 104 m3,1200 Mmcfpd = 3400 104 m3,Chevron is a Major Global Driller,15,2009 77% Onshore,Chevron is Best in Classin most areas of our Operations,16,SJV data is for 2007 due to limitations with current external reporting source (CCGOP) (2) Thailand benchmarked against all of Southeast Asi

10、a Offshore Wells (e.g., China, Malaysia, Indonesia, Vietnam, etc),2008,“Factory” Pad DrillingAllows for Significant Operational Efficiency Improvements,17,Chevron - Piceance Basin Colorado US,“Factory” Pad DrillingAllows for Significant Operational Efficiency Improvements,18,Chevron - Piceance Basin

11、 - Colorado US,Continuous Improvement,19,Gulf of Thailand “Factory” - Scope,Drilling Drill and complete 250-300 “slim-hole monobore” wells/year in 5-7 days each. Annually drill 3.5-4 million feet of hole and run 5-6 million feet of casing/tubing with 6-8 rigs. Developed unique practices like mono-bo

12、re completions, and offline logging and cementing.,Completions Maintain 2000 wells on 200 platforms with 350 people/day with 24 slickline units, 8-10 cased hole units perforating 22,000 feet / year 2 coiled tubing units, and 1-2 HWO units Perform 4000+ well interventions / year,20,Drilling Technolog

13、y PDC Bits1982 Oil Based Mud 1982 Simpler Completions 1983 Unitized Wellheads 1984-87 MWD Tool 1985 Top Drive Rotary Systems1985 Steerable Drilling Systems1985 Super Combo Logs 1985 Steering Tools 1988 Adjustable Stabilizers 1991 TCP Completions 1993 Slim Hole Monobores 1995 Splitter Wellheads1996 L

14、ow Lime Mud1998 Casing Drilling1999 LWD2002 Offline Activity Centers2003 Offline openhole logging2008,PDCs, OBM, Smaller hole/casing,Top Drives,Slimhole,4 to 3 casing strings,Gulf of Thailand “Factory”Continuous Technological ApplicationDecline in Average Days per Well,21,Gulf of Thailand “Factory”C

15、ontinuous Production Increase,The Technical Challenge in Statistical Plays:Maximize High PerformanceMinimize Low Performance,22,Performance of Chesapeakes 1000 Barnett Wells,Sub -Commercial,Drive Profitability,IP is a function of the shales geological properties and the frac-completions,Apply Techno

16、logy to:,Reduce the number of these,Increase the number of these,Impact of Improved Performance,Simply minimizing the number of poor performers improves value significantly Dont Drill 10% of the Low Rate Wells Increases Value by $455 MM Dont Drill 20% of the Low Rate Wells Increases Value by $831 MM Every 1% Increase in mean Project IP Increases value by $40 MM,23,Base Case Mean Rate = 2 mmcf/day Avg. Well Cost = $3 MM Drill 1000 Produced volume = 2Tcf IP (mcf/day) EUR (bcf) $mm (NPV10) Reduce low rate wells by 10% Mean Rate = 2.2 mmcf/day Drill 909