Hydrate reservoirs in the South China Sea belong to muddy silt-type hydrate reservoirs with low permeability. Horizontal well fracturing is one of the main stimulation methods for low-permeability oil and gas reservoirs. For muddy silt-type hydrate reservoirs, the stability and effectiveness of hydraulic fractures may be a severe problem due to poor reservoir cementation, reservoir deformation, and sand production. In this paper, the time variability of fracture conductivity is considered for the first time. According to the