Patterson-uti Energy, Inc. · NASDAQ:PTEN
Patterson-uti Energy — Bank of America Conference Call to Discuss SimulFrac (August 2021)
12 slides from Patterson-uti Energy's conference presentation, Aug 16, 2021
Slide 1: Simultaneous Fracturing (Simul-Frac) Introduction
Simultaneous Fracturing (Simul-Frac) Introduction
Slide 2: Forward-looking statements
forward-looking statements This material and any oral statements made in connection with this material include “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Statements made which provide the Company’s or management’s intentions
Slide 3: Our history
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT WHERE WE ARE NOW our history 1980 2004 2006 2010 2014 2017 2019 2020 TODAY First frac job Industry Industry first PTEN aquires Acquisitions Acquisition Completed Celebrating first vertical horizontal Key Energy of
Slide 4: Simul-Frac Basics
1 HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT SIMUL-FRAC BASICS ONE ENHANCED FRAC SPREAD • Simultaneous hydraulic fracturing of two wells located on the same well pad • Historically, simul-frac utilized two complete frac spreads • Universal’s process utilize
Slide 5: Imperatives for Simul-Frac Success
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT IMPERATIVES FOR SIMUL-FRAC SUCCESS G G L geoLOGY geometry LOGISTICS Reservoir quality Surface - Wellhead Uninterrupted Operations balanced with Simul-Frac layout on pad at 50% higher product job design Subsurface -
Slide 6: Example sequence of zipper frac
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT example sequence of zipper frac • Fracturing one well at a time • Plug and Perforation performed in one well • Frac and Wireline “ping pong” between the available wells WELL #1 WELL #1 WELL #2 WELL #2 WELL #3 WELL
Slide 7: Example sequence of simul-frac
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT example sequence of simul-frac • Fracturing two wells simultaneously • Plug and Perforation performed in two wells simultaneously • Frac and Wireline “ping pong” between well pairs WELL #1 WELL #1 WELL #2 WELL #2 W
Slide 8: Rig up comparison: simul-frac vs. zipper
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT RIG UP COMPARISON simul-frac vs. zipper Larger Sand Smaller Sand Delivery Delivery “Dance Floor” “Dance Floor” e 28 x 19 x Pumping Pumping Units Units 2x 1x Monolines Monoline 2 x 1 x Wireline Wireline Units and Un
Slide 9: Completions timeline
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT completions timeline LATERAL FEET Completed simul-frac vs. zipper 700,000 600,000 23 DAYS • Simul-Frac operations typically have more stages 500,000 35 DAYS as compared to single well or Zipper operations 400,000 S
Slide 10: Impact of simul-frac
HISTORY AND FOOTPRINT BASICS IMPERATIVES ZIPPER SIMUL-FRAC COMPARISON TIMELINE IMPACT impact of simul-frac storage Larger onsite storage capacity needed for proppant water Increased water supply demand pad size Increased pad size may be required based on well spacing EQUIPMENT Pump down and Wireline
Slide 11: Simul-Frac Key Takeaways
SIMUL-FRAC KEY TAKEAWAYS 50% 22% 30% LATERAL FEET HORSEPOWER DAYS ON PAD TREATED/DAY PER WELLBORE • Well PRODUCTION BROUGHT FORWARD - EARLY CASH FLOW • OPTIMIZED HORSEPOWER, CREW AND R&M, EQUIPMENT UTILIZATION • OVERALL EFFICIENCY GAINS FOR THE RIGHT CANDIDATE WELLS G G L geoLOGY geometry LOGISTICS
Slide 12: MUNIVERSAL
MUNIVERSAL sioisry compavyor M&PATTERSON-UTI =
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