Newfield Exploration Leads Kingfisher County in 2016 with 10,000 Foot Laterals

Newfield Exploration Leads Kingfisher County in 2016 with 10,000 Foot Laterals

Kingfisher county, located in the STACK, is among the most active counties in Oklahoma having 163 new completions since the start of 2016. Within the last year some of the most active operators have been Alta Mesa Holdings, Newfield Exploration and Chesapeake Energy. Alta Mesa has completed 46 wells and fracked 57 wells compared to Newfield who had 36 completions and fracking 44 wells. The county used a total of 770,000 tons of raw sand with 230 tons of resin coated sand and 3,200 tons of ceramic proppant.

(Source: Energent Group)

Optimized Completions for Newfield Consist of Tighter Clusters and Stages

Comparing operator completion trends in the basin showed that Newfield continued to drill the longest laterals during 2016 with five wells over 10,000 feet. The company was also using the most proppant per well using over 10 million pounds or more per well. In the chart below these trends stand out as the y-axis shows the lateral length, the x-axis being the frac date and the radius of the bubble being the proppant volume.

(Source: Energent Group)

In December, Newfield presented at the Capital One Energy Securities Conference the company showed the optimized completion design which is using tighter cluster and stage spacing along with larger sand and fluid volumes being pumped by FTSI, Performance, and Halliburton 86% of the time. The company is also using the diverting agents from FTSI, NuFlo 1000LT, and Performance, PTLDA300, in the completions.

Along with the optimized completion design, Newfield will develop the area using 3 to 4 well pads and using a zipper frac design to reduce completion times. The company will also have multiple rigs and frac crews per DSU to accelerate operations and reduce downtime.

Over 1 Billion Pounds of Proppant Needed in Kingfisher this Year

We forecast the number of new wells based on the current well phases to create a data-driven market potential. Using this methodology, along with the historical completion trends for proppant in the last 9 months we expect that Kingfisher county will need 1.3 billion pounds of proppant in the near-term, almost all of it being raw sand. The chart below shows the top 5 operators by frac sand demand.

 

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