Revolutionizing the Economics of Completions
Xpress Frac - Multi-set & Release Frac tool for well completion*
Xpress Frac does not need to trip in and out of the hole to set a plug - the tool is attached below the perf guns and the assembly is pumped into the well. Once the correct depth is reached, the guns are fired, the slips are set against the side of the wellbore and the expansion of the packer element seals the casing thus isolating the stage, which is now ready to receive the proppant. Once the frac is finished, a pull on the wireline releases the slips and packing element of the perf gun / frac plug assembly and moves it to the correct depth and the process repeats itself. The Xpress Frac single plug, multi-set and release solution has the ability to recapture trip time, eliminate a majority of personnel downtime, eliminate the cost of plugs plus the associated milling costs. Conservatively estimating one wireline trip per 5 stages completed, this will reduce the total idle time from 63 to 15 hours, which is a 76% reduction in total idle time.
No more plugs to mill out which does away with the need for coiled tubing or stick pipe for milling. It is one less system with multiple moving parts that the operator does not need to worry about. Xpress Frac has an impact on both metrics - idle time is decreased which reduces the Average Completion Time per Stage and increases the number of Stages per Day.
Reduction of horsepower and water – isolation of the frac interval will lower the need for pumping horsepower and water consumed. Field results have proven this to be effective in increasing hydrocarbon recovery and lowering the cost of the frac operation.
Time to first oil in the above example is accelerated by an estimated 6 days. This adds an additional $231,000 revenue on the front end of the well's life and taken in the current accounting period. (Assumptions - 700 barrels of oil recovered per 6 days or 3,500 incremental barrels and a price of 55.00 / bbl).
Significantly Smaller Carbon Footprint from reduction in overall frac job - crew, housing, power, surface assets, etc (~48 hours), reduction in surface horsepower by a third, reduction in water consumption, elimination of coiled tubing, elimination of crew transport to and from the site and 100% reduction in energies expended drilling out plugs to include crew, housing, power, etc.
Real Time measurement of Pressure and Temperature at the perforation cluster enables accurate measurement of closure pressure, and reservoir breakdown pressure. There by, enabling the operators to predict and prevent screen-out, optimize well spacing and increase estimated ultimate recovery (EUR).