Econ-Decline Curve/Eur Question-Oil and Gas

SoccerBoss
Category:
Economics
Price: $15 USD

Question description

                                                        EUR=Estimated Ultimate Recovery for this question

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The following production data is given. The well is assumed to exhibit exponential decline.

Month

Production (bbl)

Rate (bopd)

Cum (bbl)

Jan-2013

2,170

70

2,170

Feb-2013

2,240

80

4,410

Mar-2013

2,294

74

6,704

Apr-2013

1,800

60

8,504

May-2013

1,643

53

10,147

Jun-2013

1,620

54

11,767

a.  Plot the decline curve for this data.

b.  What is the nominal decline rate (1/year)?

c.  If qel = 3 bopd, what are the reserves effective 7/1/13?

d.  If qel = 3 bopd, what is the EUR for this well?


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