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Oil Well Decline Modeling Using Hyperbolic-Exponential Forecasting
Oil Well Decline Modeling Using Hyperbolic-Exponential Forecasting
Oil well production rate naturally declines with time as the reservoir depletes and pressure drops. Decline curve analysis (DCA) is a technology that can be used to extrapolate observed early time production to predict future rate performance and the expected ultimate recoverable reserve (EUR) volume that the well will produce during its life (typically 20 to 30 years).
The formulation in this Demonstration is based on the Arps method. This method is an industry-accepted hyperbolic-exponential decline formulation that is usually tuned to match observed data using the four parameters controlled by the sliders.