Preferred Sands Launches New “Build a Better Well” Campaign to Optimize Well Designs Throughout North America
By Business Wire News
By Business Wire News
Preferred Sands, one of North America’s leading proppant technology companies, today announced the launch of its “Build a Better Well” Campaign, a pioneering new initiative aimed at increasing production while reducing costs for operators. Through the Build a Better Well Campaign, Preferred Sands tracks real well production reports and studies well designs throughout North America from proposal and completions to production, with the goal of providing operators with targeted feedback to optimize well designs.
By studying real well production reports, Preferred Sands is able to track the performance of each of its products throughout all reservoir conditions and determine the most efficient products for every well.
“The Build a Better Well Campaign is helping us to understand exactly how our products perform in varying well characteristics, so we can make sound recommendations to our customers based on real results. This data allows us to stay ahead of the curve by determining the best possible proppant combinations, something most operators are not yet doing,” said Michael O’Neill, founder and CEO of Preferred Sands. “At Preferred Sands, we are committed to offering the most cost-effective, efficient and innovative products to our customers, and we are proud to help them increase production at a reduced cost through this initiative.”
Operators that participate in the campaign provide their well characteristics and current well designs, including information such as depth, location, closure stress, temperature, frac type, stage length, number of stages, proppant volumes and distributions. With this information, Preferred Sands is able to suggest well designs that optimize crucial operating factors such as proppant concentration and distribution, frac tail-in and cluster spacing.
As a part of the Build a Better Well Campaign, Preferred Sands studied the results of two wells in the Eagleford shale in Webb County, Texas at an average total vertical depth of 9,821 feet. The study compared wells using Preferred’s Pearl/Chrome tail in-proppant, 100M and ceramics, versus wells using 100M and ceramics only. The results show that wells using Preferred Sands’ Pearl/Chrome tail-in proppant produced 21 percent more, or $3,538,373 in average increased production, while lowering the proppant cost by 58 percent, after an average of 12 months.
The findings were based on real well data provided by NavPort, which sampled deep horizontal wells in Texas. All real well production reports are conducted using actual, disclosed public well data from the NavPort database. To ensure the most accurate production comparison, all wells included in a production report are identified using a strict methodology comprised of 18 distinct selection criteria, including operator name, well trajectory, hydrocarbon type, and distance (all wells included in a horizontal real well production report must be within a 1.5 mile diameter of each other).
For more information about Preferred Sands, please visit www.preferredsands.com.
About Preferred Sands
Preferred Sands, headquartered in Radnor, PA, is one of North America’s largest proppant technology companies serving the hydraulic fracturing industry. Launched in 2007, Preferred is dedicated to developing and growing innovative technology solutions, including Preferred Polymeric Proppants, its environmentally-sensitive line of polymeric coated proppants, and DustPRO, the first cost-effective dust prevention solution designed to help oilfield service, exploration and production companies meet and exceed current and future silica dust exposure limits. These pioneering product developments have earned Preferred recognition as a world leader in innovative and sustainable proppant technologies throughout the oil and gas, chemical, and technology industries. The company’s various awards include: the 2014 CPO Polyurethane Innovation Award for Improving Oil Productivity; 2014 R&D 100 Award for Improving Oil Productivity; 2013 Oil & Gas Awards Environmental Initiative of the Year; 2013 Oil & Gas Awards Industry Supplier of the Year; 2013 Oil & Gas Awards Excellence in Environmental Stewardship; and 2012 Ernst & Young Entrepreneur of the Year in Energy, Cleantech, and Natural Resources.
Matt Goldstein, 484-385-2953