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Why Mines is a Source of Petroleum Technology Investment Opportunities
Dr. William W. Fleckenstein
Enercom Oilfield Technology & Innovation Day August 17, 2017
Technology Investment Opportunities
1. Funding for an early stage startup
2. License Mines technologies
3. Traditional funded research
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World Class Research Facilities
More than $230 million has been invested in new buildings, facilities and other capital investments between 2006-2014.
In addition, the $50 million CoorsTek Center for Applied Science and Engineering will be completed in two months.
Plus – the Edgar Experimental Mine
3
Focus On Technology Development
$63.8 million - total research awards in 2015,
roughly half funded by non-federal sources
4
Colorado Center for Advanced Ceramics
Materials Science Program - an atom probe
Student And Faculty Aspirations are
Changing
Demand for entrepreneurial and innovation
experiences
Facebook and Google anyone?
5
SpaceX Hyperloop pod competition
Mines Makerspaces
Changing the Industry Landscape with
Emerging Technologies at Mines
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Fleckenstein IP
1. Method and Apparatus for Testing a Tubular Annular Seal (US
9,624,764) – Annular Casing Seal Test (ACST)
2. Downhole Tools and Methods for Selectively Accessing a Tubular
Annulus of a Wellbore (US 8,991,502) - FracOPTIMAL
3. Downhole Tools and Methods for Selectively Accessing a Tubular
Annulus of a Wellbore (US 9,562,419) – FracOPTIMAL 2
4. Method and Apparatus for to Rotate Subsurface Wellbore Casing
(Patent Pending) – Downhole Rotator
7
The First Opportunity – FracOPTIMAL2
Multistage hydraulic fracturing of horizontal wells is at the heart of
the shale development.
Two primary methods of multistage fracturing are used:
Plug and Perf
Frac Sleeves
Frac Sleeves have been used less frequently because of this:
8
FracOPTIMAL was designed to provide
a single sized ball sleeve with limitless
number of stages. It was a Startup that
made money but had a design flaw – a
flapper
FracOPTIMAL2 overcomes the flaw and
competes with the Perf and Plug
FracOPTIMAL – with a Flapper9
Drop Member
Catch or
Release
Mechanism
Torsional Spring
and hinge
Spring
Closed bore
to tubular
annulus
Open Port to
annulus
Seals
Compression
Spring to
recock tool, if
it is not
shifted
Weep hole
Locking Dog
Spring loaded
Drop
Member
Open
bore thru
tubular
Drop Member
Catch or
Release
Mechanism
Torsional Spring
and hinge
Spring
Closed bore
to tubular
annulus
Open Port to
annulus
Seals
Compression
Spring to
recock tool, if
it is not
shifted
Weep hole
Locking Dog
Spring loaded
Drop
Member
Open
bore thru
tubular
At a lower
pressure and
time as fluid is
forced
through weep
hole, sleeve
moves
downward
Drop Member
Catch or
Release
Mechanism
Torsional Spring
and hinge
Spring
Open bore to
tubular
annulus
Open Port to
annulus
Seals
Compression
Spring to
recock tool, if
it is not
shifted
Weep hole
Locking Dog
Spring loaded
Drop
Member
closed
bore thru
tubular
The sleeve snaps
violently downward until it
reaches its end position,
when the locking dogs
lock the sleeve in place
and the spring loaded
collet assembly recesses
in a profile, allowing full
ID of the sleeve for ball
return
Flapper
FracOPTIMAL2 – no Flapper10
1. FracOPTIMAL2 uses a single sized
ball.
2. Unique 2-pressure tool operation:
1. A high pressure is used to pass the
frac ball through a sleeve until the
correct sleeve is reached.
2. Once the correct sleeve is reached,
a lower pressure, combined with
time, is used to actuate the sleeve to
the fracturing position.
3. The stage is then fracture stimulated
FracOPTIMAL2 – Passes a Ball11
DropMember
1. Ball approaches and lands in the
sleeve.
2. Operator applies a high pressure
3. Retaining fingers flex and the ball
passes
FracOPTIMAL2 – Actuates to Frac!12
DropMember
1. Ball approaches and lands in the sleeve.
2. Operator applies a low pressure and time
3. Hydraulic oil passes from one side of piston through orifice to the other. Sleeve moves down to frac position – fingers cannot open. Ball is trapped
4. Why care? Multi-stage hydraulically fracturing is the single largest expense in shale development.
The Second Opportunity
In the US alone, 20,000-40,000 wells are drilled every year
Nearly every one of these wells is drilled through an aquifer
Citizens and regulators are demanding that the aquifers be protected.
The aquifer is protected by cemented surface casing
What assurance do you have that the casing is sealing off the aquifer?
What about the seals at the bottom of casing in wells on directionally drilled pads, or exploration and offshore wells?
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The Annular Casing Seal Test (ACST)
Patent US 9,624,764
There is no test routinely run and
accepted by regulators in use in the
US to test the annular cement seal of
surface casing.
US BLM proposed a Cement Bond Log
(CBL) with an assumed cost of $9000
per well to assess the annular surface
casing seal protecting the aquifer.
The proposal never became
regulation, but public scrutiny of
aquifer protection remains.
The Annular Casing Seal Test (ACST)
is cheaper and rig friendly
14
ACST
patent drawing
The ACST Operation15
Test Pressure
ACST
5’ – 10’
Aquifer
Shoe
Float
Collar
The Competing Alternatives
Casing Shoe Tests – LOT & FIT
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Casing Shoe Tests (there are two)
Formation Integrity Tests (FIT)
are used to verify the strength of
the formation to a predetermined
pressure expected during
drilling this section.
The problem is casing shoe tests
(LOT and FIT) measures
formation strength, not the
annular seal.
Leak-Off Tests (LOT) are used to
determine the ultimate strength
of the formation below a casing
shoe.
Investigation of the “Plastic-Behavior” Region
in Leak-Off Tests, Allerstorfer, 2011
The Competing Alternatives
Cement Bond Logs (CBL)
17
ACST
50’
Aquifer
1. A CBL can only be run above the effective bottom of the casing.
2. Bond logs take longer and cost more
3. Bond logs are subject to more interpretation
“The only cement test method that can confirm zone-to-zone isolation is a pressure test.”
Cement bond logs can give a reasonable estimate of bonding and a semi-quantitative idea of presence or absence of larger cement channels, but will not certify pressure or fluid isolation of a zone.”
George E. King, Apache Corporation
12 July 2012
ACST Markets
Surface casing seal assurance to protect aquifers
Deeper, intermediate casing seal assurance for well control
Seal assurance and monitoring in injection wells
18
Can We Build It?
Capstone Design@Mines
19
Can We Build It?
Meet Reed Baker
PE Masters Student
Ex NOV and Baker
20
Can We Test It and Detect a Channel?21
More Opportunities in Pipeline
Downhole Rotator (patent pending)
Application in downhole tractors
Horizontal plug drill out assist
Extended reach wells
Pig Prop – new method of proppant
22
Genesis of a Mines Startup
Dr. William W. Fleckenstein, PE (CA#1666)
Faculty Member since 2000
30 years experience
Petroleum Eng. Dept. Head (2012-2014)
SPE Distinguished Lecturer
Drilling, Completion and Workover
experience on over 200 wells
Extensive IP Experience
CTO of first Mines PE Startup
(FracOPTIMAL)
Chairperson of the $1.4 billion asset
Credit Union of Colorado
Collector of Enercom Bobbleheads?
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Investment Opportunities
Funding for early stage start up
Build and market ACST
Support Design Teams to prototype:
FracOPTIMAL2
Downhole Rotator
Identify and promote promising technologies on campus
SBIR participation
License technologies
Traditional funded research
24
Contact Information
Dr. Will Fleckenstein
Petroleum Engineering
303.384.2030
Dr. Will Vaughan
Director of Technology Transfer
303.384.2555
25
