Estimate the decline parameters and economic rate of return, Microeconomics

1. The figure below is historical production data from the Kuparuk River field. The OOIP is 5,332,979 Mstb and cumulative recovery through 12/31/2004 is 1,971,200,654 stb.

1673_Estimate the Decline Parameters and Economic Rate of Return.png

A. Estimate the decline parameters, b, qi, and D.

B. If the field economic rate is 25,000 stb/day, determine

                        (i)  the time to reach the economic limit

                        (ii) the ERR

                        (iii) the EUR

                        (iii) the recovery factor at the economic limit.

Posted Date: 3/6/2013 2:02:20 AM | Location : United States







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