LPW was one of the last companies that I researched heavily and as a result know more about the fracking methods/completions/proppant selection and resulting flow/decline rates than I used to, a lot more!
From my understanding there have been several shifts in the way fractures are completed, up until a few years ago the idea was to fracture as much as possible and basically pump down huge quantities of sand to prop open the fractures, sand is not as effective as ceramics but due to the sheer size and relative cheapness the large sand filled fracture methods were for a while thought to be the most economic. More recently it has been proven that the superior decline rates possible with properly selected ceramic proppants mean that long term economics stack up better when utilizing an intermediate or high crush strength ceramic proppant. The other key development is in fracture and proppant placement. Until recently about half of the stages within a fracture were basically expected to be duds. Now that they have the big data sets and advanced directional drilling methods they can expect that around 80 percent of the stages fractured will produce flow, that coupled with the improvement in Darcy's flow obtained by utilizing the correct ceramic proppants leads to much better initial flow rates with slower decline.
The other benefit of ceramics is that due to the large down turn in drilling of late the companies producing them are becoming more competitive price wise as are the service providers such as Halliburton.
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