Strategies for Optimizing Petroleum Exploration:: Evaluate by Lev Knoring, M.V. Gorfunkel, G.V. Chilingarian

By Lev Knoring, M.V. Gorfunkel, G.V. Chilingarian

Here's a necessary advisor to appraise and boost petroleum assets. Geology mostly determines exploration coverage. This ebook analyzes the strategic connection among the 2 and exhibits tips to enhance selection making on appraising and constructing petroleum assets. It examines and describes the inner styles to find oil and gasoline deposits and descriptions a strategy to judge the assets. The booklet additionally presents a way for long term reserve accrual forecasting and overview. It makes use of mathematical modeling as a style to judge the preliminary strength of an oil and gasoline sector in addition to how to forecast destiny reserves. those types increase the reliability and validity of exploration forecasts and estimates. ideas for Optimizing Petroleum Exploration is helping petroleum engineers and explorationists concentration and increase their reserve evaluation and selection making.

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Additional info for Strategies for Optimizing Petroleum Exploration:: Evaluate Initial Potential and Forecast Reserves

Example text

This is exactly what occurs in real life, which can be easily explained by comparing the models. -- = k(1- R/A) R r/R - k[1 - (R/A) 1/b] (2-53) This illustrates that the limiting factors for the models are respectively equal to" kR/A and k(R/A) lib (2-54) If R/A < 1 and b > 1, one obtains: R/A < ( R/A ) lib (2-55) Thus, dependence of the reserve accumulation on the preceding exploration stages results in a limitation of the accrual. This limitation increases with b, which is the number of steps or stages in the continuous chain of exploration activities.

When b = 1, the curve is a straight line and the decline rate is constant. When b > 1, the curve is concave and the decline is decreasing. When b < 1, the curve is convex and the decline is accelerating. These cases were shown in Figure 2-1. As a consequence, differential Equation 2-33 Evolution of the Reserve Accumulation: Deterministic Models 41 has several solutions. When b = 1, the solution is a logistic function and the r(t) curve is symmetric. When b > 1, the r(t) curve has a positive asymmetry (the tail is a longer part of the curve); when b < 1, the curve has a negative asymmetry (the tail is a shorter part of the curve).

Having determined the direction of the cross-section b i selection and moving in this direction, we will eventually find a cross-section /~ - b~ where the minimum of summed squared deviations SS(bn) corresponds to the best ~(bn) estimate. These /~ and ~ (bn) values are the best (in the least square sense) estimates of the b and c parameters. This procedure is applied several times for different initial values of parameters and for different steps Ab and Ac. The following helps reduce computing time.

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