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    Date submitted
  • 09-Nov-2017

Engineered Fracs= Higher Production

Abstract

Based in Calgary, Alberta, Canada, Rocsol Technologies Inc. want to change the way unconventional wells are completed. We are a data analytics company whose software provides real-time downhole weight on bit (DWOB) and geomechanical-formation evaluation logs (DROCK) for unconventional horizontal wells. We do this without any downhole tools. All the key data that we need is already collected during the routine drilling process. These logs are invaluable to operators in drilling and completing unconventional wells since, unlike vertical wells, horizontal wells are seldom logged, due to the high cost and complexity, and therefore, little to no geomechanical and reservoir information is available. Consequently, companies are spending on average $7M to complete a horizontal unconventional well. By spacing the fracs evenly from the toe of the well to the heel of the well they frac EVERYTHING including good rock, bad rock, and mediocre rock. There is ZERO engineering or science used in selecting the location of the fractures.

Rocsol want to put the science back into completing wells but at a reasonable cost. By using geomechanical-formation evaluation logs the location of the fractures can be engineered to selectively place fractures in the reservoir’s sweet spots. This can reduce completion costs by hundreds of thousands of dollars and simultaneously increase average production rates.

On the drilling side Rocsol’s software can accurately calculate downhole weight on the drill bit allowing the driller to drill more quickly, more efficiently and longer with the same drill bit. Unlike companies that do this with downhole tools and charge thousands of dollars per day we can do it for hundreds of dollars per day with no downhole tools and no loss of data or time due to tool failures.

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Additional Questions

Who is your customer?

Rocsol's customers are any oil and gas company that drill and complete unconventional wells. We also target service companies that provide fracturing and modeling services to these same operators.

What problem does this idea/product solve or what market need does it serve?

Due to the lack of geomechanical and reservoir data on unconventional wells very little or no science and engineering are used to design the fracture stimulation programs. Operators are basically fracking the entire horizontal wellbore

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Rocsol see our software as a disruptive technology. Since the large majority of operators are using the geometric evenly spaced fracturing technique, this would be a major change from the current status quo. However, we know that our software would reduce the amount of sand being pumped on a horizontal well yet maintain or even increase production. Further, having geomechanical logs and reservoir information available on every well, will lead to a better understanding of the unconventional reservoir and larger ultimate recovery volumes.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Like any new product idea, the first key to success is a successful marketing plan. Once the marketing plan has been developed it can be implemented in Canada and the USA. The marketing plan has to be backed up with a product that has been developed and field tested and Rocsol has already completed this phase. Although there are many competitors in the market that offer reservoir modelling services and can create geomechanical logs, the data they use is collected by downhole logging tools and the analysis of cores cut from the wells. This data is available on very few horizontal wells and these companies must make assumptions and extrapolations when it comes to new wells that have not been logged or cored. In nature, there are no homogeneous reservoirs, and each well is unique and different from the last. Rocsol’s software can calculate this data for each and every well are a very competitive cost using our software.