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Oil Reserves and Reserve Estimate
Published in Hussein K. Abdel-Aal, Economic Analysis of Oil and Gas Engineering Operations, 2021
Predicting the reserve using decline curve methods requires production rate of all the wells. The production rate generally declines with time, reaching an end point, which is referred to as the economic limit. The economic limit is a production rate at which the income will just meet the direct operating cost of a well or a certain field. Typical decline curve analysis consists of plotting production rate versus time and trying to fit the obtained data into a straight line or other forms which can be extrapolated up to the economic limit to estimate the reserve on the assumption that all the factors affecting the well performance have exactly the same effect in the future as they had in the past.
Reservoir Engineering
Published in Nwanosike-Warren Quinta, Oil and Gas Engineering for Non-Engineers, 2022
As more production and pressure data become available, material balance calculations and decline curve analysis become the dominant methods of reserves estimation. Decline curve analysis focuses on individual wells rather than the entire reservoir.
Oil production forecasting using deep learning for shale oil wells under variable gas-oil and water-oil ratios
Published in Petroleum Science and Technology, 2022
Pedram Mahzari, Mehryar Emambakhsh, Cenk Temizel, Adrian P. Jones
Recent reports have focused on adopting the decline curve analysis on the shale oil and gas wells (Thompson, Okouma M'Angha, and Anderson 2011; Zuo, Yu, and Wu 2016; Li and Han 2017; Tan, Zuo, and Wang 2018; Han and Kwon 2019; Montgomery et al. 2020). The decline curve analysis benefits from identifying the oil and production profiles from the production history less aided by the rock and fluid intrinsic properties if compared to reservoir simulations (Zhang et al. 2016). Hyperbolic decline curves have been suggested as sufficient for shale oil and gas formations (Tan, Zuo, and Wang 2018). The empirical parameters in the decline curve analysis can be linked to reservoir drive mechanisms and rock and fluid properties. One of the cornerstones of the assumptions behind decline curve analysis is the fairly stable production constraints and rock and fluid properties over the period of the production history (Arps 1945). Over the life-span of a well, the operational constraints can vary as well as the reservoir properties. For instance, chronologically, it is conceivable that fracture permeability can be a highly dynamic parameter for shale wells as well as intermittently changes of gas-oil and water-oil ratios.