Cumulative production forecast of an oil will using simplified “Hyperbolic-Exponential” decline models
No Thumbnail Available
Date
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Description
Decline Curves are important tools employed in the petroleum production industry to establish a good production performance forecast of production wells. Studies have shown that neither hyperbolic nor exponential decline could accurately produce dependable forecast results, which in turn affects the various economic decisions being made on both investment and future production processes. New simplified models for decline curve analysis are developed. The models are applicable to naturally producing wells that have not been secondarily enhanced. These models use exponential decline to extrapolate hyperbolic decline behaviour in making future production performance forecasts. Estimating different needed parameters and engaging some assumptions, the forecasted cumulative production increment using the model is Qel=20,705bbls. This compares favourably with the existing models.
Keywords
TP Chemical technology