E&Ps’ appetite for proppant has kicked up a fierce sand storm as operators pack in, on average, 10 million pounds per horizontal well to boost recoveries.
In areas where proppant loading hasn’t been as pervasive as, say, the Permian, other companies are also latching onto proppant loading. In the Williston Basin, Oasis Petroleum Inc. (NYSE: OAS) reported its latest horizontal well tests used about 10 million pounds, which the company estimates will boost EURs by 25%. Its base completion methods had used 4 million pounds of proppant.
While service companies welcome the surge in demand, they’re also trying to keep ahead of the supply curve through acquisitions that add capacity to meet operator’s requirements.
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Source: Daily Dose of ShaleDirectories.com News