PROJECT203-09

PROJECT203-09 - PGE 203 TERM PROJECT(due 5;00 PM Friday May...

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PGE 203 TERM PROJECT (due 5;00 PM Friday May 8) The worksheet labeled “Field Data” contains production (and other) data for an off-shore field containing four wells. (note that the production in all wells started eight months after the drilling and completion operations) Most of the material noted there will not be used in your computations but will be helpful in understanding the whole operation. Your task is to determine the decline rate as of the present time (last production value – month 44) and to determine the oil to be produced in the next ten years (out to month 164) for both an exponential decline and a hyperbolic decline with an exponent, b , of 0.4. This should set minimum and maximum limits on what can be expected. Your results should be presented in a report that also details your methods and intermediate computations. You may do all of your work in Excel if you wish, although it is not necessary. If you wish to work completely outside Excel, You will find two graphs (Chart1 and Chart2) which you can print out and use. On the other hand you may wish to use Excel

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