Decline Analysis Solution

# Decline Analysis Solution - Decline Curve Analysis...

This preview shows pages 1–4. Sign up to view the full content.

Decline Curve Analysis Forecasting future production is the most important part in the economic analysis process but is often the weakest part of the analysis. Decline curve analysis is a good tool to use in forecasting IF the production is naturally declining. Decline curves are characterized by three factors: - Initial production rate - the curvature of the decline - the rate of decline

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Decline Curve Analysis, (cont.) There are three commonly recognized types of decline curves Exponential: d = d i = Constant Hyperbolic: d = d i (q/q i ) b Harmonic: d = d i (q/q i ) b is the decline exponent and d i is the decline rate at the start of the current decline period (initial decline) The decline rate has the units of reciprocal time. If multiplied by 100, the decline rate is the percentage change in the current rate with time, i.e., if d is 0.10/ yr., the current rate is declining at a rate of 10% per year. d is ALWAYS positive.
Exponential Decline The equations describing constant percentage decline are derived by integrating the differential equation which describes decline, i.e., the instantaneous decline rate is a constant percentage of the instantaneous production rate. The integration

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

## This note was uploaded on 09/28/2009 for the course PGE 203 taught by Professor Taylor during the Fall '08 term at University of Texas.

### Page1 / 11

Decline Analysis Solution - Decline Curve Analysis...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online