Data Management for Oilfield Water Logistics

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1 Data Management for Oilfield Water Logistics Shale Water Expo October 14, 2015

2 Oilfield Water Management Why water matters in unconventional oil and gas 2

3 No Water, No Frac - Water is Now Critical To Oil / Gas Production 3 Water in the Oilfield Hydraulic fracturing uses / produces significant water volumes Once a well is completed, it produces water at an average ratio of 8:1 water to oil Water must be effectively managed at multiple stages Managing water is complex and expensive Water management strategies vary by individual well Asset data determines the most cost effective solution Drilling Drilling fluid Waste disposal The Oilfield Water Lifecycle Process 1-6 Weeks 1-2 Weeks 1-4 Weeks ~5 Yrs. Completion Hydraulic Fracturing Water sourcing Storage Treatment Transport Disposal Flowback Storage Treatment Transport Disposal Production Volumes Over Time Declining wastewater production (bbls/day) Declining hydrocarbon production (bbls/day) Production Storage Treatment Transport Disposal Flowback fluid Produced Fluids TIME days ~5 years

4 Well Completions Are Falling But Water Volumes are Rising 4 Water Volumes Rig counts and well completions have declined substantially While the volumes of water have not Why? There are a few drivers: 1,919 US Rig Count (Weekly Avg.) 1,761 1,862 1,064 Produced water is correlated with oil production # of completions are decreasing but horizontal lengths are increasing Longer horizontal wells use / produce larger water volumes Re-fracturing will drive continued water use (through Source: Baker Hughes Sept.) Total Water Consumed & Produced in US Onshore Oil / Gas (Millions of BBls) 26,354 2,050 28,162 28,061 28,754 2,720 2,271 2,334 24,304 25,443 25,790 26,420 Water volumes will hold up in a low oil price environment (Est.) 2016 (Est.) US Flowback & Produced Water US Water For D&C Source: PacWest / IHS Water IQ

5 Water is a Significant Share of Development / Production Costs 5 Well CAPEX Water Cost As % of Well OPEX (8:1 Produced Water / Oil Ratio) Capitalized Interest 1% Asset Retirement 2% Exploration 2% Dry Hole 0% Property Acquistions 0% 55% Leasehold Acquistions 6% Other PP&E 9% Drilling and Facilities 80% 45% 100% Avg. (Non-Water) Costs / Well Produced Water Costs / Well Total Cost / Well 10-30% of total well CAPEX is water related cost Water is the largest component of well OPEX Source: Digital H2O Analysis

6 Transport and Disposal Represents A Large Opportunity 6 The US Oilfield Water Market is Est. at $19B in Water Management Lifecycle Transport and Disposal = 61% of External E&P Water Related Spend Source Transport Storage Treatment Disposal Source: PacWest / IHS Water IQ Oilfield Water Management Service ($B) All Other Utica Barnett Haynesville DJ Basin Bakken Marcellus Anadarko Permian Eagle Ford

7 The Problem: Lack of Oilfield Water Data and Market Transparency A lack of good information creates barriers to efficient water management Extremely Local Datasets Water constraints and volumes vary by geography Understanding the water marketplace requires specialized data expertise. Lack of Transparency Data fragmented across hundreds of disorganized sources Proprietary data often not logged, archived, or mined Leads to inefficient E&P operations and rent-seeking OSFs Significant Hidden Cost Unrecognized lifecycle water costs hinder operational improvement Water effects budgets of multiple, independent groups within E&Ps Each group targets own KPIs despite impact on well lifecycle costs.

8 Top Down Market and Bottoms Up Asset Visibility is Required 8 Asset Visibility Understanding trends at the basin level can elucidate high level market opportunities Digital H2O Water Asset Intelligence DB Permian Basin Source Documents Water Transfer Records Water Volume (bbls) 27, ,405 1,486,690,694 bbls Examples: Is water disposal capacity growing fast enough to meet demand in the Permian Basin? What areas within are currently unserved in terms of water disposal capacity? Asset level data is required to make truly informed investment planning and real-time operational decisions

9 Water Management Case Study A data-driven analysis 9

10 A Water Disposal Logistics Case Study 10 Transport and Disposal Costs Water Transport To Disposal Facility Trucking costs are the largest portion of water management costs Dependent on the total time it takes to transport the water As an example: Transport cost of $3/bbl/hour 51 minute trip to transport130bbls Cost per truckload of $ However, transport distance only represents a portion of the total time to dispose water Water Transport and Disposal Cost Function $ + $ Truck Speed Transport Cost Disposal Fee

11 Disposal Well Utilization Also Matters 11 Well Utilization Drives Distance Scatter plot of avg. trucking distances and avg. pressure utilization in Texas Data shows a definitive correlation between trucking distance and pressure utilization Heavily utilized wells have longer truck wait times When disposal wells approach full utilization, trucks drive longer distances to dispose at alternative disposal sites Pressure Utilization (%) Disposal Well Utilization max Disposal Well Utilization vs. Truck Distance Average Trucking Distance (miles) Avg. Travel Distance Vs. Avg. Well Pressure District Trucking Distance (miles) Pressure Utilization (%) E B C A

12 Truck Wait Time Is A Function of Well Utilization 12 Disposal Well Utilization Disposal Well Utilization Utilization can be used as a proxy for average truck wait time at the disposal site Utilization as Proxy For Wait Time Leveraging our data, we have developed a function to represent the relationship Asset utilization is variable dependent upon current disposal demand in a specified area Truck Wait Time (hours) Utilization vs. Truck Wait Time 0.0 0% 20% 40% 60% 80% 100% Utilization (%)

13 Water Disposal Optimization Base Case 13 Current Logistics Optimization Scenario 1: Base Case Most producers do not currently take into account well utilization 1 Cost: $ In a scenario where utilization is not considered, producers typically send their water to the closest disposal well Producing Well 2 Cost: $ In this scenario, the producer would choose disposal well #2 Disposal Well However, this is a sub-optimal outcome Transport Cost: Disposal Fee: Water Volume: $3 / bbl / hour $0.75 / bbl 130 bbls Average Truck Speed: 55 mph 3 Cost: $ Water Transport and Disposal Cost Function

14 Water Disposal Optimization Well Utilization Scenario 14 Incorporating Truck Wait Time Total transport time is affected by the disposal well s utilization 35% Utilization Scenario 2: Well Utilization Analysis Total cost is a function of transport time plus wait time multiplied 1 Cost: $ % Utilization 2 Cost: $ In this scenario, disposal well #3 (the furthest well) is the cheapest disposal option Producing Well This is only optimized from an operator s perspective The equation can also be optimized from the perspective of the disposal well operator Disposal Well Transport Cost: Disposal Fee: Water Volume: Average Truck Speed: $3 / bbl / hour $0.75 / bbl 130 bbls 55 mph 3 Cost: $ % Utilization

15 Water Disposal Optimization Online Marketplace 15 Variable Pricing Scenario Variable pricing benefits both producers and disposal companies Disposal well operators desire higher utilization maximize profit Producers want to dispose of the largest volume of water in least amount of time In this scenario, disposal site #1 lowers it s disposal fee to $0.25/bbl capturing the 300bbls Scenario 3: Variable Disposal Fee Via Online Marketplace 35% Utilization 1 Disposal Fee: $0.25/bbl Cost: $ Producing Well 65% Utilization 2 Disposal Fee: $0.75/bbl Cost: $ Disposal fees of $ Skim oil recovery adds additional revenue opportunity of $92.63 Total revenue of $ The oil producer was able to save $35.33 due to the lower disposal fees Result: reduced water costs for producer, increased revenue for disposal well #1 Disposal Well 3 Disposal Fee: $0.75/bbl Cost: $ % Utilization Disposal Well #1 Revenue Rev. from Water Disposal Water Volume: 130 bbls Average Skim Oil Percent: 1.5% Oil Volume Recovered: 1.95 bbls Oil Price: $47.50 / bbl Rev. from Skim Oil +$92.63 Total Transaction Rev. +$ Participant Original Final Net Producer $ $ $35.33 Disp. Well #1 $0 $ $470.82

16 A Marketplace Could Also Enable Cost Effective Water Reuse 16 Reuse vs. Disposal Operators can reuse produced water for new completions Reuse saves money and reduces environmental impact 35% Utilization 1 Scenario 4: Produced Water Reuse Disposal Fee: $0.25/bbl Cost: $ % Utilization 2 Disposal Fee: $0.75/bbl Cost: $ In this scenario, another operator nearby needs water to complete a new well Instead of paying for disposal, the producing operator sells their water to the second operator (#4) Result: using produced water to frac well #4 reduces costs for both parties Producing Well Disposal Well Permitted Oil Well Producer 1 sells water to pr oducer 2 for $.50/bbl 4 Fresh Water Cost: $ Produced Water Cost: $ Without real-time insight into the nearby supply/demand of water, these opportunities are rarely realized 3 15% Utilization Disposal Fee: $0.75/bbl Cost: $ Transport Cost: Disposal Fee: Water Volume: Average Truck Speed: $3 / bbl / hour VARIABLE 130 bbls 55 mph Water Price: $0.50 / bbl Participant Original Reuse Net Producing Operator -$ $ $ Permitted Oil Well #4 -$ $ $248.18

17 Advanced Data Analytics and Marketplace Mechanisms Can Help Make Shale More Competitive 17 Water Costs Matter 10-30% of well CAPEX Over 50% of well OPEX $19B in external E&P spend Water Asset Data is Valuable Water forecasting and predictive analytics Infrastructure planning Real-time optimization / management A Marketplace Enables Efficiency Trucking and disposal optimization Efficient allocation of water resources Water reuse / alternative water use

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