Professional Documents
Culture Documents
Schorn Cowen 12042017 Slidesonly PDF
Schorn Cowen 12042017 Slidesonly PDF
100 700
▪ Global production not yet fully
600
95 reflecting drop in E&P investment
500
90
85
400 ▪ Demand for oil remains strong
$ billion
MMbbl/d
Russia
12% global supply ▪ OPEC and Russia production cuts
have helped rebalance markets
Pad Drilling Increasing Lateral Lengths Extending Evolution of Speed and Length
300 2014
100% 20%
2017
0% 0% 0
2012 2013 2014 2015 2016 2017 2014 2015 2016 2017 0 5,000 10,000 15,000
% Wells from Multiwell Pads Share of Laterals > 10,000 ft Lateral Length (ft)
Pad drilling boosts efficiency Longer laterals increase reservoir contact Faster speeds reduce drilling times
Notes: Lateral examples are from the Midland Wolfcamp, pad drilling mix data from Rystad NAS WellCube; 2017 data through October 31
Transformation Improves Internal Efficiency in US Land
Hrs/Failure
60 1,500
%
40
20 500
0 0
TelePacer xBolt TelePacer xBolt
4 % 20
2 10
0 0
2015 2016 2017 2014 2015 2016 2017
Note: Cost of ownership includes compensation, maintenance and capex per job; 2017 data through October 31
PowerDrive RSS Technology Drives Performance in US Land
15,000
25,000 2016
Seventh well
5 days 2015
30,000
0 2 4 6 8 10 12 Average Lateral Average Days Cost Per
Footage Per Well Per Well Lateral
Drilling Time (days)
▪ Drill time halved between first and seventh wells ▪ Drilling cost per lateral reduced by 30%
▪ Two record-breaking laterals >20k feet drilled in October ▪ Total lateral footage drilled per well extended by 9%
▪ All seven wells drilled fully in geological window ▪ 7,128-ft lateral drilled in 1.7 days
Note: Cost of ownership includes compensation, maintenance and capex per job
Transforming Completions and Production—OneStim
Improving Asset Utilization and Reducing Unit Cost—OneStim
Operations Planning
Global Traceability
▪ The narrowing gap between oil supply and demand is leading commodity prices
higher. We are increasingly positive on the outlook for our global business
▪ We continue to invest in our business, and our technology leadership coupled with
increasing digital enablement provides a foundation to leverage market recovery
▪ We are confident that our financial strength, geographical footprint and technology
portfolio position us as the oilfield services leader as the market moves to recovery