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Next-Generation Fly-Ash Based Proppants

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Objective Capital's Proppants Investment Forum
David Henson, LWP Technologies
City of London - April 21, 2016

Publicada em: Economia e finanças
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Next-Generation Fly-Ash Based Proppants

  1. 1. PROPPANTS INVESTMENTPROPPANTS INVESTMENT FORUM Next-Generation Fly-Ash Based Proppants David Henson – CEO, LWP Technologies ‐ Americas GRANGE CITY HOTEL, CITY OF LONDON ● THURSDAY, 21 APR 2016 www.ObjectiveCapitalConferences.com
  2. 2. PROPPANT FORUM with Objecti e CapitalObjective Capital London 21 April 2016 David Henson LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 2 David Henson CEO
  3. 3. This disclaimer forms part of and is incorporated in the accompanying material The information in this presentation is an overview and does not include all information necessary for investment decisions. In making investment decisions, investors should rely on their own examination of LWP Technologies Limited, (LWP) or consult with their own legal, tax, business and/or financial advisors in connection with any acquisition of securities. This information has been prepared in good faith by LWP. However, no representation or warranty, express or implied is made, in relation to the accuracy or completeness of the information provided in this document or any other information by LWP otherwise provided to the recipients. Whilst every care has been taken with preparation of the information contained in this document, no responsibility is accepted by LWP or any of its representatives, directors, partners, employees or professional advisers for any information provided in this document or otherwise provided to the recipients or for any action taken by the recipients on the basis of such information. In particular, no representation or warranty is given as to the accuracy likelihood of achievement or reasonableness of any forecasts prospects or returns contained in the information Such forecasts prospectsto the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in the information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. Each recipient of the information should make its own independent assessment of the information and take its own independent professional advice in relation to the information and any action taken on the basis of the information. This presentation includes forward looking statements within the meaning of the Corporations Act. These forward looking statements may be identified by words such as “may,” “will, “expect,” “intend,” “anticipate,” “believe,” “estimate,” “plan,” “project,” “could,” “should,” “would,” “continue,” “seek,”y, , p , , p , , , p , p j , , , , , , “target,” “guidance,” “outlook,” “forecast” and other similar words. These forward looking statements are based on LWP’s current objectives, beliefs and expectations, and they are subject to significant risks and uncertainties that may cause actual results and financial position and timing of certain events to differ materially from those described in the forward looking statements: failure of a proposed transaction to be implemented; the challengers of cost and closing, integrating, restructuring and achieving anticipated synergies; the ability to retain key employees; and other economic, business, competitive, and/or regulatory factors affecting the business of LWP generally, including those set forth in LWP’s business plan, in particular, the “Risk Factors” section. Any forward looking statements speak only as of the date hereof or as of the dates indicated in the statements. LWP assumes no obligation to publicly d t l t f d l ki t t t t fl t t l lt h i ti h i th f t ff ti th f d LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 3 update or supplement any forward looking statement to reflect actual results, changes in assumptions or changes in other factors affecting these forward looking statements except as required by law. © LWP Technologies Limited
  4. 4. LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 4
  5. 5. A Comprehensive Review on Proppant Technologies Feng Lianga, Mohammed Sayeda, Ghaithan A. Al‐Muntasheria, Frank F. Changb, Leiming Lia a Aramco Services Company, Aramco Research Center – Houston, 16300 Park Row, Houston, TX 77084, USA b Saudi Aramco, P.O. Box 5614, Dhahran, 31311, Saudi Arabia, , , , Received 1 October 2015, Accepted 5 November 2015, Available online 14 November 2015 65 Year of Fracturing Experience : The Key to Better Productivity Is Not What we Have Learned, But What We Have Forgotten.. F Syfan Terry Palisch J Dawson – 2013 SPE 166107 LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 5 F Syfan, Terry Palisch, J Dawson 2013 SPE 166107
  6. 6. Generally, silica sand is used to prop open low stress fractures in shallow formations. Sand is less expensive per Propping Agents Generally, silica sand is used to prop open low stress fractures in shallow formations. Sand is less expensive per  pound than Resin Coated Sands or ceramic proppants. RCS is used where more compressive strength is required to minimize proppant crushing, it has an effective density  that is less than sand. Ceramic proppants consist of: Sintered bauxiteSintered bauxite Intermediate‐strength proppant (ISP) Lightweight proppant (LWP) The strength of a ceramic proppant is proportional to its density. Also, the higher‐strength proppants, like sintered  bauxite, cost more than ISP and LWP. Ceramic proppants are used to stimulate deep ( > 8,000 ft) wells where large  values of in situ stresses will apply large forces on the propping agent When choosing a propping agent, a proppant that will maintain enough conductivity after all crushing and  embedment occurs must be chosen The effects of non Darcy flow multiphase flow and gel residue damage should values of in‐situ stresses will apply large forces on the propping agent. LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 6 http://petrowiki.org/Propping_agents_and_fracture_conductivity embedment occurs must be chosen. The effects of non‐Darcy flow, multiphase flow, and gel residue damage should  also be considered.
  7. 7. UNDER PRESSURE (ISO 13503‐2) b / h h d LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 7 Low Krumbein 6K 20/40 Northern White Sand  crushed at 7,000PSI – net result 10.8% fines
  8. 8. LWP Ceramics under pressure LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 8 High Krumbein 14k LWP 30/50 Ceramic proppants crushed at 15,000 Psi
  9. 9. Kaolin Based Ceramics • Kaolin - White Bone China aka Porcelain • ‘High Ridge’ in Chinese. • Approx. 1450 Degrees Celsius firing temperature LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 9
  10. 10. Bauxite Based Ceramics Refractory Grade Bauxite 55-60 % Al2O3 < 5 % SiO3 < 5 % Fe2O3 LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 10 Dehydration/calcining 1 hr at 1080 deg C Calcining approx 1 hr at 1800 deg C
  11. 11. What is Coal and Flyash? LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 11 Source : EngineeringToolbox.com
  12. 12. Flyash basics ASTM Class F Class C >70% ------------>50% Ash content coal up to 40% !! LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 12 Ash content coal up to 40% !!
  13. 13. Flyash Classes (US – ASTM C618)Flyash Classes (US  ASTM C618) LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 13
  14. 14. The difference is? While both classes of fly ash greatly reduce concrete permeability as compared to the  cement only mixes Class F tends to give proportionately greater permeability reductioncement only mixes, Class F tends to give proportionately greater permeability reduction.  Due to the higher levels of pozzolanic compounds, Class F fly ash mitigates against  sulfate attack, alkali silica reaction, corrosion of reinforcement, and chemical attack. While Class C fly ash generally improves concrete durability as related to these forms of  tt k hi h l t t b t ff ti l iti t thattack, higher replacement percentages may be necessary to effectively mitigate them.  What about melting behavior? LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 14 http://www.boralna.com/flyash/faq.asp g
  15. 15. Flyash Melt Phenomena ‐ Eutectics LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 15 ASH FUSIONTEMPERATURES AND THE TRANSFORMATIONSOFCOALASHPARTICLES TO SLAG S.Gupta.T.F.Wall.R.A.Creelman andR.Gupta Department of chemical Engineering University of Newcastle, Callaghan, NSW 2308, Australia
  16. 16. Si Al Ca / Si Al Fe (quat)Ternary Diagrams LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 16 Changes in Fly Ash With Thermal Treatment John M Fox 2005 World of Coal Ash (WOCA), April 11-15, 2005, Lexington, Kentucky, USA
  17. 17. Mechanics of Sintering Sintering occurs by diffusion of atoms through the microstructure. This diffusion is caused by a gradient  of chemical potential – atoms move from an area of higher chemical potential to an area of lower  chemical potential. The six common mechanisms are: Handbook Advanced Ceramics Somiya et al 2003 LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 17 FLYASH + SINTERING + mechanical densification  = ????
  18. 18. So lets get at it …..g Phase 1  R&D 2011‐13    Erlangen, Germany Phase 2 2014 present LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 18 Phase 2 2014‐present Brisbane, Australia
  19. 19. Area of research Timeline (yrs) Key findings R&D – Technical Lab Effects of grinding and classifying 2 Control green and fired strengths Green strength and density via moisture and binders 2 Sufficient for using commercial equipment such as vibratory, belt elevator etc Eutectic melting point effects of combustion impurities and i dditi ( ti ki ) 3, ongoing Key effects of natural impurities and processing additives t d ti ki id tifi dprocessing additives (sticking) to reduce sticking identified Porosity control via flux and doping agents 1, ongoing Ability to moderate porosity Sintering, decalcining and quench curve optimisation 1, ongoing Up to 15% reduction in sintering temp via additive/blend. Energy consumption. Krumbein factors (Sphericity /Roundness) 2, ongoing Controllable 0.6<x<0.9 Rapid screening method for flyash testing 1, ongoing Proprietary Clean coal combustion impacts 2, ongoing Effects of FGD, ammonia, activated carbon and other cleanup residues Ageing effects of flyash 1 Confidential LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 19 Rapid on line or in house test methods to enable process and quality control 2 years Proprietary
  20. 20. Flyash Testing Program Type of flyash / number of tests Lab scale - 2015 x flyash @ y tests Pilot Scale 20161 K range (k PSI) Characteristics / observations Australian 3@16 In progress 5< x < 7 Indian 3@91 1@3 5 < x < 15 Scale up results identical to lab !! Chinese None in 14 /15 US 6@43 South African ? TBD European ? TBD 1 Brisbane pilot plant first production run December 2016 LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 20 1 Brisbane pilot plant first production run December 2016
  21. 21. R&D – Commercial / Engineering Key area Target Findings Logistics models P2P vs Hub vs be - spoke Point of use manufacture, logistically differentiated C S C fCommercial model US , Australia complete, ME under development Confidential Site location key factors Oil field, power plant, fuel availability Confidential a a ab ty Energy consumption Reduced calcination/reaction energy Lab analysis complete, validate with new facility Standard plant design 50k and 100k TPA facilities Confidential LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 21 Standard plant design 50k and 100k TPA facilities Confidential
  22. 22. Conceptual Plant Design LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 22
  23. 23. Build this, Get that … ⍬ not to scale LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 23
  24. 24. Brisbane Pilot Plant • Production capacity: 3,000 tons/year • Construction completed May 2015, commissioning completed August 2015 • First scale up results validated 3rd party December 2016  12k Proppant LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 24
  25. 25. 2016 Development Activities Activity Duration Target result Australian Ash (lab) 2 months Sinter curve and mix design Texas Ash (lab) 2 months Sinter curve and mix design Indian Ash (pilot) Successful scale up Optimise plant design parameters ( ) S 2 S fAustralian Ash (pilot) Starting q2 Scale up, finalise plant design parameters Texas Ash (pilot) 4 months … Canadian ash Under development ? LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 25
  26. 26. CCP’s – A US success, an Emerging Global  Business LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 26 The US leads the world in beneficial reuse of flyash at approx 50% https://www.acaa- usa.org/Portals/9/Files/PDFs/2014ReportFinal.pdf http://ashtrans.eu/onewebmedia/15%20ASHTRANS%202015%20TDUVE.pdf
  27. 27. India – A Growing Challenge to Achieve.. Note : also includes mine filling and ash dyke/dam raising for flyash P d b fi i l (23%) LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 27 Ponds as a beneficial use (23%) http://cea.nic.in/reports/others/thermal/tcd/flyash_final_1415.pdf
  28. 28. Indian FA CCP exports to Saudi Arabia… LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 28 http://www.infodriveindia.com/india-export-data/fly-ash-export/fc-saudi_arabia-report.aspx
  29. 29. Conclusions  1. LWP Flyash proppants ‐ Sand to Ceramic flexibility 2. Proven scale up and repeatability across various feedstocks 3. Logistically differentiated – manufacture close to point of use LWP Technologies Limited (ASX:LWP) - Next-Generation Fly-Ash Based Proppants www.lwptech.com 29

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