May 2020
Company Spotlight
Deep Imaging
For this Company Spotlight, we interviewed Deep Imaging’s President and CEO, David Moore, about how they are deploying technology that changes the way operators make completion decisions in the field. Deep Imaging’s technology allows operators to monitor subsurface frac fluid in real-time during hydraulic fracturing operations, which enables customers to make better completion decisions and significantly reduce costs. For more information about Deep Imaging, please visit www.deepimaging.com.
Brief Market Backdrop: In recent years, E&P operators have been focused on improving drilling and completion techniques to maximize well production and reduce costs. While these advancements have significantly increased drilling & completion efficiency and well productivity, operators understand that the current growth model (i.e. continuously increasing lateral length, proppant pumped, etc.) is not sustainable, especially in today’s low oil price environment and ongoing market pressure on capital efficiency. As a result, operators have turned to innovative technologies, such as Deep Imaging’s offering, that will allow them to continue realizing enhanced well productivity and operating efficiencies, without requiring continued expansion of well complexity.
Introduction to Deep Imaging: Deep Imaging offers frac fluid tracking technology that allows customers to monitor subsurface frac fluid movement during hydraulic fracturing operations, enabling decisions to be made “on the fly”. By understanding frac fluid movement in real-time, operators are able to identify the following downhole problems during the frac operation and make critical changes to their completion plan on the existing well and across future wells.
Parent-Child Well Interference and Ineffective Well & Stage Spacing: Frequently leads to reduced hydrocarbon extraction and unnecessary costs
Plug failures, Impaired Cement Integrity and Natural Fault Lines: Often leads to poor stage isolation and ineffective frac fluid movement into the production zone, resulting in significant costs related to fracturing stages that would otherwise be more economical to not fracture.
By deploying Deep Imaging’s technology, operators are able to save several millions of dollars on a single frac job. When this is extrapolated across an entire field, the cost savings become tremendous, which is why Deep Imaging is experiencing broader industry adoption and interest from customers seeking to deploy the technology.
Competitive Landscape: Deep Imaging is not the first company to introduce technology that allows operators to monitor frac operations. Other options range from low-cost wellhead pressure gauges to permanently installed fiber-optic cables, which are often cost prohibitive and required to be run downhole, leading to frequent failures. Deep Imaging is the first provider to introduce frac fluid tracking using electromagnetic technology, which provides customers with superior accuracy and speed, without requiring any equipment downhole or on the wellpad.
Closing Remarks: With a growing focus on preserving capital and generating free cash flow, operators are increasingly seeking to deploy Deep Imaging’s technology. We expect Deep Imaging to experience rapid customer adoption as operators realize the value proposition of its technology. We look forward to following Deep Imaging and the success it achieves.