Enercom Dallas 2019 · 2019-02-28 · Source: Rystad Energy research and analysis, Rystad Energy...
Transcript of Enercom Dallas 2019 · 2019-02-28 · Source: Rystad Energy research and analysis, Rystad Energy...
Enercom Dallas 2019
February 2019
Office locationsRystad Energy: Independent energy
consulting and business intelligence data
firm established in 2004, headquartered
in Oslo with offices across the globe.
Databases: Covering energy
fundamentals, upstream, oilfield services
and renewable energy industries.
Analytics: Alongside the database suite
we offer an extensive library of market
reports, commentaries and fact sheets.
Consulting: A leading advisor on
strategy, markets and business
development within the energy space
globally.
Not launched yet
Rystad Energy research and analysis involves a four-pronged approach – leveraging
primary intelligence, secondary intelligence, proprietary data & our in-house experts
Methodology
Source: Rystad Energy research and analysis
Primary Intelligence
Secondary Intelligence
In-House Experts
Proprietary Data
- Conversations with network of on-the-ground field experts
- Conversations/interviews with all participants in oil/gas value chain
- Industry-leading experts and technical specialists
- Market research data sets and reports
- Company annual reports, SEC filings,
press releases
- Speeches and presentations by company
leadership and other industry experts
- Analyst reports from leading banks
- State and Federal regulatory filings and
data
- Calibration and collaboration of Rystad Energy’s extensive energy databases
- Proprietary database NASWellCube, containing well attributes data for over 1,000,000 wells
- Asset level data for all oil and gas producing assets around the world
- Rystad Energy possesses a team of in-house experts focused on various markets within the energy space
4
Forecast
Forecast
$4.00
$2.75
$3.73$4.34
$2.63
$2.47$2.99 $3.18 $3.24 $2.98 $3.18 $3.37
$0.00
$1.50
$3.00
$4.50
$6.00
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
$95 $94 $98 $94
$49
$43$51
$65$56 $61
$51$58
$0
$30
$60
$90
$120
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
WTI oil price forecast
2019 - $56 per bbl.
2020 - $61 per bbl.
2021 - $51 per bbl.
2022 - $58 per bbl.
The IMO 2020 regulation will ensure
the oil market remains balanced in
2020; WTI oil price is expected to
increase to $61 per bbl.
Because of this, 2021 would see an
oversupplied oil market unless there
are production cuts.
WTI oil price forecast
Price per barrel (USD)
Source: Rystad Energy research and analysis
Henry Hub Natural Gas Price Forecast
Price per MMBtu (USD)
WTI oil price forecast to be $56 per bbl in 2019, with price recovery expected in 2H Oil price to increase to $61 per bbl in 2021
Oil and Natural Gas Price Forecast
5
Forecast
20.2
24.025.7
27.7
18.2
9.9
13.916.8 16.9 17.6 18.7 19.4
0
200
400
600
800
0
5
10
15
20
25
30
35
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Fra
cS
tag
es
We
lls
Fra
ck
ed
& S
pu
dHZ Wells Fracked VT/DR Wells Fracked
HZ Wells Spud Total Frac Stages
HZ wells fracked increased by 27% in 2018 and is expected to decrease by 1% in 2019
US Land: Wells Fracked, Wells Spud & Frac StagesThousands
Source: Rystad Energy research and analysis, Rystad Energy ShaleWellCube
Values (thousands) Percent change (%)
2016 2017 2018 2019 2020 2021 2022 2017Δ 2018Δ 2019Δ 2020Δ 2021Δ 2022 Δ
HZ Wells Fracked 8.2 11.9 15.2 15.0 15.2 16.2 16.2 +45% +27% -1% +1% +7% -0%
Total Wells Fracked 9.9 13.9 16.8 16.9 17.6 18.7 19.4 +40% +21% +0% +4% +7% +3%
HZ Wells Spud 7.5 13.6 15.2 14.2 15.7 14.5 16.6 +81% +12% -6% +10% -8% +15%
HZ Frac Stages 248 415 541 560 582 653 658 +67% +31% +3% +4% +12% +1%
Total Frac Stages 253 420 552 569 593 665 674 +66% +31% +3% +4% +12% +1%
D&C Activity Forecast
Total wells fracked peaked out at
~27,700 in 2014; Rystad Energy
doesn’t expect that count to be
reached within the forecast period.
From 2018 to 2019, wells spud count
is projected to decrease by 9%.
Activity expected to decrease in 2021
as oil prices fall.
6
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Permian Eagle Ford Bakken Mid-Con DJ Basin Rest of US Land
Source: Rystad Energy ShaleWellCube
*within ShaleWellCube coverage
US Onshore oil production
Million barrels per day
US onshore oil production increased by 1.5 million bpd in 2018; Rystad Energy expects a
further increase of 1.4 million bpd in 2019 and 0.8 million bpd in 2020
7
Forecast
2935
41
6257
42
80
114123
135
153
166
0
30
60
90
120
150
180
210
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Appalachia Permian Eagle Ford Bakken
DJ Basin Mid-Con Powder River Rest of US
US Land: Frac Sand Demand
Million tons
Notes: Appalachia includes Appalachia-Marcellus and Appalachia-Utica; Permian includes Permian-Midland, Permian-Delaware and Permian-Other; Eagle Ford includes Eagle Ford and Woodbine; Mid-Con includes
Mid-Con-SCOOP, Mid-Con-STACK and Mid-Con-Other
Source: Rystad Energy research and analysis, Rystad Energy ShaleWellCube
Frac sand demand is forecast to grow by 7% in 2019 and 10% in 2020; Permian market
share to increase to 45% in 2019 from 23% in 2014
Frac Sand Demand
Frac sand demand is forecast to
grow at 11% CAGR from 2019 to
2022
Permian frac sand demand is
expected to grow from 55 million tons
in 2019 to 72 million tons in 2022,
representing a 9% CAGR growth
Eagle Ford frac sand demand is
expected to grow from 16 million tons
in 2019 to 21.7 million tons in 2022,
representing a 10% CAGR growth
Mid-Con frac sand demand is
expected stay flat in 2019 and 2020
before increasing to 12.6 million tons
in 2022 representing 12% CAGR
Powder River Basin frac sand
demand is expected to see the
highest year-on-year growth, at 47%
in 2019 to 1.3 million tons
8
Frac Sand Intensity
Lbs per foot
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Marcellus Bakken Eagle FordPermian - Delaware Permian - Midland HaynesvilleUS Land
Source: Rystad Energy ShaleWellCube, Rystad Energy research and analysis
Frac sand intensity across US Land increased 5% from 1Q 2018 to 1Q 2019; frac sand
intensity levels seen to moderately increase to ~2,200 lbs per foot by end of 2022
Frac Sand Intensity Trends
Operators have experimented with
various proppant loadings and are
zoning in on the most optimal
proppant intensity level
Average frac sand intensity level
across the US is estimated to be
~1,920 lbs per foot in 1Q 2019
The Marcellus, Permian-Delaware,
Permian-Midland, Eagle Ford and
Haynesville shale plays now use over
2,000 lbs per foot
Rystad Energy doesn’t expect
average frac sand intensity levels to
increase beyond 2,500 lbs per foot in
the forecast period
Frac Sand Intensity Trends
Play / Basin Δ (18Q1 – 19Q1E)
Permian-Delaware +4%
Permian-Midland +9%
Eagle Ford +4%
Appalachia – Marcellus +13%
Bakken -2%
Haynesville +1%
US Land +5%
9
* 27 people participated in the survey; survey participants work for various companies across the proppant value chain
Source: Rystad Energy research and analysis
37% of respondents believe that frac sand intensity levels will decline in 2019 from current
levels
Survey Responses – Frac Sand Intensity*
0%
19%
44%
37%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50%
Greater than 10%
5% to 10%
0% to 5%
-5% to 0%
Q: Do you think frac sand intensity levels (lbs per foot) will decrease, plateau or increase from
current levels in 2019?
10
* Mesh size market share estimates are based on modelling an incomplete sample dataset that only represents 35% to 45% of population of wells due to lack of reporting in FracFocus
Source: Rystad Energy research and analysis, Rystad Energy ShaleWellCube
100 mesh frac sand grade is expected to gain market share in the US, increasing from a
market share of 46% in 2018 to 56% in 2021
US Land: Mesh Size Market Share Trends, by Year*
27%35% 33%
23%
13%6% 5% 5% 5% 5% 4%
12%
19% 22%
24%
28%
24%19%
14% 13% 12% 11%
40%
36% 32%
35%
36%
36%
36%
34%32%
30%29%
21%
11% 13%18%
23%
34%40%
46%50%
54% 56%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2011 2012 2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F
20/40 30/50 40/70 100 mesh
11
Forecast
1,306 1,255 1,242
2,710
3,5453,713
4,023
4,4344,595
0
1,000
2,000
3,000
4,000
5,000
2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: Rystad Energy research and analysis, Rystad Energy ShaleWellCube
Frac sand trucks on road per day forecast to increase from ~3,500 in 2018 to ~4,600 in 2022,
representing a 30% increase
Permian: Frac Sand Trucks on Road per Day
12
Forecast
115
134
198
214 211 216 216
0
50
100
150
200
250
2016 2017 2018 2019 2020 2021 2022Northern White Sand In-Basin Sand (Permian)In-Basin Sand (Eagle Ford) In-Basin Sand (Mid-Con)In-Basin Sand (Haynesville) In-Basin Sand (DJ Basin)In-Basin Sand (Uinta) In-Basin Sand (Appalachia)In-Basin Sand (Powder River) Brown SandOther
US Land: Frac Sand Supply
Million tons
Source: Rystad Energy research and analysis
Frac sand supply forecast to increase 8% in 2019 after a 47% increase in 2018
Frac Sand Supply (Nameplate)
63 million tons of in-basin frac sand
supply per year from 19 mines is
available in the Permian for 2019 and
beyond
Rystad Energy estimates 30 million
tons of northern white sand supply to
exit the market within the next two
years
There are concerns in the industry
regarding the quality of in-basin sand
in Eagle Ford; adoption rates could
be lower because of this
Preferred Sands and Covia mines in
Mid-Con are currently active; We
expect Titan Lansing and Black
Mountain sand mines to make it to
market
Southern Red Sands is looking to
open an in-basin sand mine in
Kanab, Utah to serve the Uinta and
Powder River Basin
13
34%
34%
11%
6%
6%
1%
0%
5%
3%
Northern White Sand In-Basin Sand (Permian) In-Basin Sand (Eagle Ford)
In-Basin Sand (Mid-Con) In-Basin Sand (Haynesville) In-Basin Sand (DJ Basin)
In-Basin Sand (Uinta) In-Basin Sand (Appalachia) In-Basin Sand (Powder River)
Brown Sand Other
Source: Rystad Energy research and analysis
Regional in-basin sands are gaining supply market share from 2018 and beyond; increasing
supply has resulted in northern white sand mine closures and downsizing
Breakdown of Frac Sand Supply, By Type
2014 Frac Sand Supply
Market Share
2018 Frac Sand Supply
Market Share
2019 Frac Sand Supply
Market Share
2020 Frac Sand Supply
Market Share
75%
17%
8%
34%
34%
11%
6%
5%
1%0%
5%
3%
54%
23%
5%
3% 10%
4%
41%
28%
9%
6%
5%
1%6%
4%
14
Forecast
$45
$35
$28
$25
$22$20
$0
$10
$20
$30
$40
$50
$60
2017 2018 2019 2020 2021 2022
In-Basin Sand (Permian) Minegate Price Forecast*
USD per ton
* In-basin sand is sourced from sand dunes in West Texas
Source: Rystad Energy research and analysis
Minegate prices for in-basin sand in Permian are forecast between $23 and $33 per ton in
2019; prices to remain between $20 and $25 per ton in the future
In-Basin Sand (Permian) Minegate Price Forecast
Operating costs for in-basin sand
mines in West Texas are estimated to
be between $12 and $16 per ton
A margin of $5 to $10 per ton is good
for a commodity like frac sand; we
expect this to be the norm in the
long-term
Under no scenario do we see frac
sand prices increasing in the forecast
period
There are some in-basin sand
providers that are better than others
in delivering service to operators and
service companies
Quality and reliability of service are
key aspects for sand suppliers to
differentiate themselves from
competition in the region
15
Forecast
$53
$32
$23
$44
$34
$25
$22
$20$20
$0
$20
$40
$60
2014 2015 2016 2017 2018 2019 2020 2021 2022
Northern White Sand Minegate Price Forecast*
USD per ton
* Northern White Sand minegate price is estimated by calculating an average on mesh grades weighted on demand market shares
Source: Rystad Energy research and analysis
Rystad Energy expects minegate northern white sand prices to be range bound between
$20 and $25 per ton in the medium-term
Northern White Sand Price Forecast
The median cost of production for
northern white sand mines is
estimated to be between $20 and
$25 per ton
We expect ~30 million tons of frac
sand supply to come offline in the
near to medium-term
The floor on northern white sand
minegate prices would be determined
by operating costs of mines that
eventually survive in the current
environment
There haven’t been a lot of
announcements of northern white
sand mine closures in 2019YTD
since the wave of announcements
late last year
Rystad Energy expects more
announcements to come once
currently active mines have to reopen
after the winter in 2Q 2019
16
“I have heard reports of spot pricing for
in-basin sand in the Permian around
$23/ton”
- Operations Head, Logistics Company
Source: Rystad Energy research and analysis
Spot prices for northern white sand and in-basin sand are estimated to be between $20/ton
and $25/ton
Market Perspectives: Frac Sand Pricing
Contracted pricing for in-basin sand
in the Permian has dropped from low
to mid 40s to the mid 30s
Adoption rates for in-basin sand in
the Permian is estimated to be over
70%
Larger E&Ps still use NWS but we
expect them to switch over within the
next few years
Rystad Energy estimates spot pricing
for in-basin sand in the Permian to be
between $20/ton and 25/ton
Northern white sand prices have
stabilized in the low 20s
Comments Quotes
The Permian has seen a significant switch from northern white sand to in-basin sand; adoption has happened at a faster rate
than our previous expectations
“Northern white sand prices have
collapsed and are in the low 20s. I
have even heard reports of mid to high
teens.”
- VP, Frac Sand Provider
“We were ready to match prices
offered by local sand providers but the
customer went away saying it wasn’t a
matter of price anymore”
- C-Level Exec., NWS Provider
“Contracted pricing for in-basin sand in
the Permian is currently in the mid
30s”
- Supply Chain Head, Operator
17
Shale Intel – Products Overview
Source: Rystad Energy research and analysis
• In-depth analysis of stimulation chemicals market and trends, including a market overview report and deep-dive reports on 8 key chemical categories (e.g. crosslinker, HCl, guar, etc.)
Frac Chemicals Market
• Analysis / forecast of US frac sand supply, demand, and pricing, by play, by type (northern white sand, brown sand and in-basin sand); including regional pricing indices, logistics analysis and supplier cost curve buildup
Proppant Market
• Detailed analysis and forecast of global fracturing services market, including regional breakdown of supply, demand, utilization, pricing, as well as market, technology trends and analysis of stacked vs. active horsepower
Frac Services
• Analysis of US oilfield water management market, including regional supply, demand, pricing, trends for sourcing, logistics, drill/frac, flowback, treatment, disposal service including competitive landscape
Water Management Services
• Play-by-play details of US rig counts, permits count, wells spud, wells frac’ed, frac stages, and stimulated length with a rolling five year forecast
Oilfield Activity Metrics
• Strategic Consulting and Advisory CapabilitiesConsulting
18
20.9
24.526.1
27.8
17.8
9.8
13.7
17.1
20.1
24.4
0
100
200
300
400
500
600
700
0
5
10
15
20
25
30
35
40
45
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Fra
c S
tag
es (
‘000)
Wells F
rac’e
d &
Sp
ud
(‘0
00)
HZ Wells Frac'ed VT/DR Wells Frac'ed
Total Wells Spud Total Frac Stages
Forecast
$95 $94$98
$94
$49
$43$50
$55 $54
$65
$0
$20
$40
$60
$80
$100
$120
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Oilfield Activity Metrics provides an industry snapshot of upstream activity by basin, oil price
forecasts, breakevens by basin, drilling statistics, & 5 year activity forecasts
Oilfield Activity Metrics Summary
Source: Rystad Energy research and analysis
WTI oil price forecast ($/bbl.)
$0 $20 $40 $60 $80 $100
Bakken
Eagle Ford
Mid-Con - SCOOP
Mid-Con - STACK
Permian - Delaware
Permian - Midland
2014 2015 2016 2017
Breakeven prices, by play ($/bbl.)
US Land: Wells frac’ed, Wells Spud & Frac Stages
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
2013 2014 2015 2016 2017
Appalachia - Marcellus Appalachia - Utica BakkenDJ Basin Eagle Ford Permian - Delaware
Average Horizontal Multi-Well Pad Size
Oil and natural gas price forecast
US oil production forecast
US rigs, wells spud, wells frac’ed, frac stages & stimulated length (5 year forecast), by play
Breakeven prices, by play
Drilling statistics, by play – multi-well pad penetration & drilling efficiencies data
Key Features
Ideal For
What will shale activity be?
What are the prospects for continued
increasing/decreasing trends?
What geographical areas will activity
be in?
What are the breakevens for each
basin?
Key Questions
• E&Ps
• Oilfield service companies
• Financial market
Forecast
19
Forecast
10.6
14.2
12.4
10.5
16.5
18.219.2
20.421.1
0.0
5.0
10.0
15.0
20.0
2013 2014 2015 2016 2017 2018 2019 2020 2021
Permian Appalachia Eagle Ford Bakken DJ Basin Mid-Con Rest of US
Frac Services provides a breakdown of fracturing horsepower demand and supply by basin,
service company, and contract status; combined with industry insights
Frac Services Summary
Source: Rystad Energy research and analysis
Horsepower Supply V Demand (MM HHP) Hydraulic Fracturing Horsepower Demand (MM HHP)
US Land: HZ Completions, by Basin Customer Insights on Various Topics
Granular breakdown of total hydraulic
fracturing equipment supply and
demand
Analysis of horsepower utilization
trends in each basin
Summary of attrition of old equipment
and new-build activity
Key Features
Ideal For
How much hydraulic fracturing
equipment is there, who owns it and
where is it?
Where and when is there likely to a
shortfall or oversupply of equipment?
Is equipment a bottleneck to growth,
or is surplus likely to hurt service
company financial
Key Questions
• E&Ps
• Pressure Pumpers
• Equipment Manufacturers
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
2013 2014 2015 2016 2017
Permian Appalachia Eagle Ford Bakken
DJ Basin Mid-Con Rest of US Total Supply
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
800
1,600
2,400
3,200
4,000
4,800
5,600
6,400
7,200
8,000
20
14
Q2
20
14
Q3
20
14
Q4
20
15
Q1
20
15
Q2
20
15
Q3
20
15
Q4
20
16
Q1
20
16
Q2
20
16
Q3
20
16
Q4
20
17
Q1
20
17
Q2
20
17
Q3
20
17
Q4
20
18
Q1
20
18
Q2
20
18
Q3
20
18
Q4
Other
Niobrara Region
Bakken Region
Anadarko Region
Appalachian
Eagle Ford
Permian
20
Forecast
49.862.6
72.6
112.3 104.280.4
151.7
198.5
238.1
292.7
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Permian Appalachia Eagle Ford Bakken
DJ Basin Mid-Con Rest of US
Proppant Market covers demand, supply, pricing and logistics for US frac sand market; also
includes qualitative insights from our extensive network of contacts
Proppant Market Summary
Source: Rystad Energy research and analysis
US Land: Frac Sand Demand (B lbs.) Frac Sand – Supply Stack (MM tons)
Eagle Ford: Total Delivered Cost ($/ton) Current Bottlenecks for Proppant
US frac sand demand, supply, pricing
and logistics (5 year forecast)
Supplier cost curve analysis
In-basin sand market coverage
Frac sand intensity trends, by region
Price forecasts for Northern White
Sand, Brown Sand and In-Basin
Sand
Key Features
Ideal For
What is the demand outlook for frac sand?
How will new in-basin mines change the frac sand landscape?
What are sand prices doing?
Who are the top frac sand providers?
What is the demand breakdown by mesh size?
Key Questions
• E&Ps
• Oilfield service companies, proppant providers
• Financial clients
0
20
40
60
80
100
120
140
160
180
Current Supply Stack New Supply Future Supply Stack
$0
$20
$40
$60
$80
$100
$120
$140
$160
0 10 20 30 40 50 60 70 80 90 100 110 120 130 140
To
tal D
eli
ve
red
Co
st
($/t
on
)
Supply (MM tons)
Median: $95/tonFrac Sand
Supply Constraints
• Finer grades of sand (40/70 and 100 mesh) are the most popular sand grades as operators have shifted to slickwater chemistry with higher proppant loadings
• All in-basin mines produce finer grades of sand (primarily 100 mesh) thus helping to mitigate this issue; Permian-Midland uses 40/70 sand, which still has to be supplied from other sources
• In-basin mines in the short-term will face production bottlenecks thus causing a strain on market
Trucking
• The trucking market is the biggest bottleneck that the proppant industry is currently facing due to driver shortages and lack of road infrastructure to meet increased truck loads in the Permian
• Increased well site storage, containerized box solutions and other innovations in the space could partially mitigate these issues
InsightBottleneck
Rail
• Frac sand demand is in uncharted waters with demand expected to exceed peak 2017 levels by 44% in 2018
• The rail car market will be stretched thin as the frac sand market grows; rail congestion and lack of rail cars will be choke points
• In-basin sands are not transported via rail and hence help to mitigate this issue partially
TransloadingSites
• As proppant loading increases and more wells are fracked during the upturn, transloadingsites with unit train capabilities are needed to ensure demand is met
• Over time, Rystad Energy expects this bottleneck to ease as companies invest money and build transloading facilities
21
Source: Rystad Energy research and analysis
Table of Contents: Shale Intel – Frac Services (1/2)
Topic Page
Executive Summary 10
Oil & Natural Gas Price Forecast 11
Well Completions Forecast 12
Permian HHP-Hrs Distribution 13
HHP-Hr Average per Well 14
Permian: Supply and Demand 15
Supply by Status 16
Pumping Horsepower Demand 18
Weekly Active Fleet Count 19
Bakken HHP Distribution 20
Horsepower Hours 21
HHP-Hr Average per Well 22
HHP-Hrs per Well Distribution 23
Pumping Supply Forecast 25
Supply by Service Company 26
Supply by Status 27
Horsepower Utilization 29
Topic Page
Marketed utilization 30
Market Views – Pricing 31
Market Views – Equipment Manufacturing 32
Market Views – Service Availability/Quality 33
Pricing 34
Permian: Supply and Demand 36
Permian: Supply by Company 37
Permian HHP-Hrs Distribution 38
Permian-Midland: Pumping Intensity 39
Permian-Delaware: Pumping Intensity, by Service Company 40
Permian-Delaware: Pumping Intensity, by Operator 41
Permian-Midland: Pumping Intensity, by Service Company 42
Permian-Midland: Pumping Intensity, by Operator 43
Permian HHP-Hrs Heat Map 2017 v 2018 44
Eagle Ford: Supply and Demand 46
Eagle Ford: Supply by Company 47
Eagle Ford: Pumping Intensity, by Service Company 48
22
Source: Rystad Energy research and analysis
Table of Contents: Shale Intel – Frac Services (2/2)
Topic Page
Eagle Ford: Pumping Intensity, by Operator 49
Eagle Ford: Pumping Intensity Distribution 50
Eagle Ford HHP-Hrs Heat Map 2017 v 2018 51
Appalachia: Supply and Demand 53
Appalachia: Supply By Company 54
Appalachia-Marcellus: Pumping Intensity, by Service Company 55
Appalachia- Marcellus: Pumping Intensity, by Operator 56
Appalachia- Utica: Pumping Intensity, by Service Company 57
Appalachia- Utica: Pumping Intensity, by Operator 58
Appalachia HHP-Hrs Heat Map 2017 v 2018 59
Bakken: Supply and Demand 61
Bakken: Supply by Company 62
Bakken: Pumping Intensity, by Service Company 63
Bakken: Pumping Intensity, by Operator 64
Bakken HHP-Hrs Heat Map 2017 v 2018 65
DJ Basin: Supply and Demand 67
Topic Page
DJ Basin: Supply by Company 68
DJ Basin: Pumping Intensity, by Service Company 69
DJ Basin: Pumping Intensity, by Operator 70
DJ Basin HHP-Hrs Heat Map 2017 v 2018 71
Mid-Continent: Supply and Demand 73
Mid-Continent: Supply by Company 74
Mid-Con-SCOOP: Pumping Intensity, by Service Company 75
Mid-Con-SCOOP: Pumping Intensity, by Operator 76
Mid-Con-STACK: Pumping Intensity, by Service Company 77
Mid-Con-STACK: Pumping Intensity, by Operator 78
Mid-Con HHP-Hrs Heat Map 2017 v 2018 79
Haynesville: Supply and Demand 81
Haynesville: Supply by Company 82
Haynesville: Pumping Intensity, by Service Company 83
Haynesville: Pumping Intensity, by Operator 84
Haynesville HHP-Hrs Heat Map 2017 v 2018 85
23
24
Source: Rystad Energy research and analysis
Table of Contents: Shale Intel – Proppant Market (1/2)
Topic Page
Oil & Natural Gas Price Forecast 9
Executive Summary 10
Frac Sand Demand 12
Frac Sand Mass per HZ Well Trends 13
Frac Sand Intensity Trends 14
Survey Responses – Frac Sand Intensity 15
Frac Sand Market Share, by Mesh Size 16
US Land: Mesh Size Market Share Trends, by Year 17
Map: Frac Sand Demand (2019 vs 2018) 18
Survey Responses – Coarser Grades of Frac Sand 19
Permian: Frac Sand Trucks on Road per Day 20
Market Perspectives: Last Mile Problem in Permian 21
Frac Sand Supply (Nameplate) 23
Breakdown of Frac Sand Supply, By Type 24
Market Perspectives: Frac Sand Supply 25
Permian In-Basin Frac Sand Supply 26
Mid-Con – Frac Sand Supply (Nameplate) 27
Quality of Sand Reserves, by Region 28
In-Basin Sand (Permian) Minegate Price Forecast 29
Northern White Sand Price Forecast 30
Survey Responses – In-Basin Sand (Eagle Ford) 31
Survey Responses – In-Basin Sand (Permian) 32
Canada Proppant Demand 34
Topic Page
Canada: Proppant Intensity & Lateral Length Trends 35
Canada: Operator Trends 36
Canada: Service Provider Trends 37
Montney: Wholesale Frac Sand Prices 38
Canada Map: Frac Sand Consumption per HZ Well 39
Permian-Delaware: Frac Sand Demand Trends 41
Permian-Delaware: Frac Sand Intensity & Mesh Size Trends 42
Permian-Delaware: Delivered Frac Sand Prices 43
Permian-Delaware Map: Proppant Consumption, by County 44
Permian-Midland: Frac Sand Demand Trends 46
Permian-Midland: Frac Sand Intensity & Mesh Size Trends 47
Permian-Midland: Delivered Frac Sand Prices 48
Permian-Midland Map: Proppant Consumption, by County (2018) 49
Eagle Ford: Frac Sand Demand Trends 51
Eagle Ford: Frac Sand Intensity & Mesh Size Trends 52
Eagle Ford: Wholesale Frac Sand Prices 53
Eagle Ford Map: Proppant Consumption, by County (2018) 54
Appalachia: Frac Sand Demand Trends 56
Appalachia: Frac Sand Intensity & Mesh Size Trends 57
Appalachia: Wholesale Frac Sand Prices 58
Appalachia Map: Proppant Consumption, by County (2018) 59
Bakken: Frac Sand Demand Trends 61
Bakken: Frac Sand Intensity & Mesh Size Trends 62
25
Source: Rystad Energy research and analysis
Table of Contents: Shale Intel – Proppant Market (2/2)
Topic Page
Bakken: Wholesale Frac Sand Prices 63
Bakken Map: Proppant Consumption, by County (2018) 64
DJ Basin: Frac Sand Demand Trends 66
DJ Basin: Frac Sand Intensity & Mesh Size Trends 67
DJ Basin: Wholesale Frac Sand Prices 68
DJ Basin Map: Proppant Consumption, by County (2018) 69
Mid-Con: Frac Sand Demand Trends 71
Mid-Con: Frac Sand Intensity & Mesh Size Trends 72
Mid-Con: Wholesale Frac Sand Prices 73
Mid-Con – Frac Sand Supply (Nameplate) 74
Map: In-Basin Sand Mines (Mid-Con) 75
Topic Page
Mid-Con Map: Proppant Consumption, by County (2018) 76
Haynesville: Frac Sand Demand Trends 78
Haynesville: Frac Sand Intensity & Mesh Size Trends 79
Haynesville: Wholesale Frac Sand Prices 80
Haynesville Map: Proppant Consumption, by County (2018) 81
Powder River: Frac Sand Demand Trends 83
Powder River: Frac Sand Intensity & Mesh Size Trends 84
Powder River: Wholesale Frac Sand Prices 85
Powder River: Proppant Intensity & Lateral Length Trends 86
Powder River Map: Proppant Consumption, by County (2018) 87
Appendix 89 - 96
Source: Rystad Energy research and analysis
Table of Contents: Shale Intel – Water Management Services
Topic Page
Oil & Natural Gas Price Forecast 7
Executive Summary 8
Frac Water Demand 10
Produced Water 11
Flowback Water 12
Treated Water 13
Reinjected Water 14
Disposed Water 15
WOR Cuts 16
Permian-Delaware: Frac Water Demand and Produced Water 18
Permian-Delaware: Water Management Market 19
Permian-Delaware: Frac Water & Proppant Mass Trends 20
Permian-Delaware: Frac Water Market Share Analysis 21
Permian-Midland: Frac Water Demand and Produced Water 23
Permian-Midland: Water Management Market 24
Permian-Midland: Frac Water & Proppant Mass Trends 25
Permian-Midland: Frac Water Market Share Analysis 26
Eagle Ford: Frac Water Demand and Produced Water 28
Eagle Ford: Water Management Market 29
Eagle Ford: Frac Water & Proppant Mass Trends 30
Eagle Ford: Frac Water Market Share Analysis 31
Appalachia: Frac Water Demand and Produced Water 33
Appalachia: Water Management Market 34
Topic Page
Appalachia: Frac Water & Proppant Mass Trends 35
Appalachia: Frac Water Market Share Analysis 36
Bakken: Frac Water Demand and Produced Water 38
Bakken: Water Management Market 39
Bakken: Frac Water & Proppant Mass Trends 40
Bakken: Frac Water Market Share Analysis 41
DJ: Frac Water Demand and Produced Water 43
DJ: Water Management Market 44
DJ: Frac Water & Proppant Mass Trends 45
DJ: Frac Water Market Share Analysis 46
Mid-Con: Frac Water Demand and Produced Water 48
Mid-Con: Water Management Market 49
Mid-Con: Frac Water & Proppant Mass Trends 50
Mid-Con: Frac Water Market Share Analysis 51
Haynesville: Frac Water Demand and Produced Water 53
Haynesville: Water Management Market 54
Haynesville: Frac Water & Proppant Mass Trends 55
Haynesville: Frac Water Market Share Analysis 56
Deep Dive: Permian Perspectives – Sourcing 58
Deep Dive: Permian Perspectives – Treatment 59
Deep Dive: Permian Perspectives – Reuse 60
Deep Dive: Permian Perspectives - Disposal 61
Appendix 65
26
For more product information or to get a [email protected]
Ryan CarbreySVP - Shale [email protected]
Rystad Energy [email protected]
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