Spreadsheet determines hyperbolic-decline parameters

A new method for determining the 3 parameters needed for hyperbolic-decline-curve analysis is discussed. The method, developed for a computer spreadsheet optimizer routine, can replace graphical or type-curve methods that are tedious and give subjective results. Production decline-curve analysis is...

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Bibliographic Details
Published in:The Oil & gas journal 1994-03, Vol.92 (11), p.61-64
Main Authors: TOWLER, B. F, CHAKMAKIAN, G. G
Format: Magazinearticle
Language:English
Subjects:
02 PETROLEUM
03 NATURAL GAS
030300 > Natural Gas-- Drilling, Production, & Processing
Applied sciences
COMPUTER CALCULATIONS
Computers
Crude oil, natural gas and petroleum products
Crude oil, natural gas, oil shales producing equipements and methods
Energy
Exact sciences and technology
FORECASTING
Fuels
Methods
NATURAL GAS WELLS
Oil exploration
OIL WELLS
Petroleum industry
PRODUCTION
Prospecting and production of crude oil, natural gas, oil shales and tar sands
Regression analysis
RESOURCE DEPLETION
Spreadsheets
Statistical analysis
TESTING
VALIDATION
WELLS 020300 > Petroleum-- Drilling & Production
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Summary:A new method for determining the 3 parameters needed for hyperbolic-decline-curve analysis is discussed. The method, developed for a computer spreadsheet optimizer routine, can replace graphical or type-curve methods that are tedious and give subjective results. Production decline-curve analysis is accepted for prediction of future performance of oil and gas wells and fields. One type of decline-curve analysis involves the hyperbolic-decline-curve equation. The challenge with this equation is to determine simultaneously 3 parameters. The new method creates a computer spreadsheet containing a set of production data. Then, specific arrangement of cells and columns containing data and formulas allows for statistical fits of the data. Finally, setting up the nonlinear solver allows for optimization of the 3 parameters by maximization of the square of the regression coefficient.
ISSN:0030-1388
1944-9151