Preferred Sands, one of North America’s leading proppant technology companies, today announced that its Garnet resin-coated sand (RCS) product outperformed by approximately 90 percent the highest producing conventional resin available in the Permian Basin, based on a study sampling 2,099 horizontal wells in the Permian from January 2013 through December 2014.
Preferred RCS Garnet, featuring TERAFORCE™ technology developed by the Preferred Sands’ technology team in collaboration with The Dow Chemical Company [NYSE: DOW], produced the top performing well from the entire sample set, as measured by barrel of oil equivalent (BOE) and lateral length. In addition, based on the results of this same study, RCS Garnet is also the only resin that significantly outperformed sand-only wells – conventional resin wells performed within one percent of sand-only wells.
The top performing well, API Well Number 42-003-44873-00-00, completed by C&J Energy Services and owned by Apache Corporation [NYSE, Nasdaq: APA], produced 42 BOE / lateral length in its first 90 days, with an average production of 1,843.5 BOE / day. The well has a vertical depth of approximately 11,344 feet and a bottom-hole temperature of approximately 148 degrees.
“When we originally introduced RCS Garnet to the market in 2013, we knew it would be in high demand because of its design specifications for flowback control in low temperatures,” said Michael O’Neill, founder and CEO of Preferred Sands. “As a company, we are committed to providing high performing products for E&P and oilfield technology companies in all basins. We are thrilled to see that our product is exceeding our customers’ expectations and outperforming other resins, as well as sand-only wells, in such a high-performing region.”
RCS Garnet, the only non-phenolic resin coating technology in the oil and gas industry and the only proppant line that does not require an additional chemical activator to create a bond in temperatures as low as 65 degrees, is designed for maximum performance in real downhole conditions. Preferred RCS polyurethane coating is compatible with frac fluids, breakers and high pH levels, so it does not leach or degrade downhole, where conventional phenolic resin coatings experience significant conductivity and performance loss when exposed to high pH levels and frac fluids.
“We have been very pleased with the well’s performance to date. In our continuous pursuit of enhanced operational efficiency and optimal production returns, we are always testing new theories, techniques and products,” said Greg McDaniel, completions manager, Apache, Permian Region. “The results from this informative analysis definitely prove that, under the right conditions, Preferred Sands’ cutting-edge proppant technology can be an extremely important piece of a highly effective well design.”