Question

Explain the behavior of the curve below and why? Using what you have learned so far from the different classes you have taken during the fulfillment of your careers taken place at the department of Petroleum engineering. Rate time plot showing exponential decline curve, example 3-1 EXPONENTIAL DECLINE CURVE ANALYSIS In figure 3.1, there is a rate time plot of oil production for the years 1997 through 2001 and the forecasted oil production thereafter. The cumulative oil production Np on 12/31/2001 is 78,044 stb. Calculate: a) Effective and nominal decline rates, q1/1/2001 and q1/1/2003 are read from the graph as 843Stb/month and 717Stb/month, respectively. b) Remaining oil reserves from 1/1/2002 to El of 200 Barrels per month. c) Time required to produce the oil calculated in b) d) Production rate at the end of the year 2004. e) Uitimate oil recovery (Nul)

Answer 1

The curve shown represents an exponential decline in oil production rates.

Step-by-step explanation:

The behavior of the curve shown is an exponential decline. This can be observed from the rate time plot of oil production from 1997 to 2001 and the forecasted oil production thereafter. An exponential decline curve suggests that the rate of oil production decreases over time at a declining rate.