Day 2 Wed, May 18, 2016 2016
DOI: 10.2118/179980-ms
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Evolution of Uncertainty Methods in Decline Curve Analysis

Abstract: Decline curve analysis has dominated reserve estimation techniques for decades. Ironically, the introduction and expansion of probabilistic calculation techniques largely by-passed these kind of calculations, but not for lack of effort. Much thought and writing has been dedicated to the unique issue of defining uncertainty in future production trends. Despite two decades of slow evolution, the resulting methods have been partial and prohibitive. Methods like scenario analysis, Delphi forecasting… Show more

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Cited by 5 publications
(1 citation statement)
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“…For this reason, uncertainty-quantification algorithms have been widely applied to decline-curve analysis (Cronquist 1991;Chang and Lin 1999;Cheng et al 2008;Gong et al 2014;Fulford et al 2016;Yu et al 2016). Purvis and Kuzma (2016) provides an overview of methods commonly used. However, the pure application of such algorithms still can result in biased estimates and frequently in overconfidence.…”
Section: Introductionmentioning
confidence: 99%
“…For this reason, uncertainty-quantification algorithms have been widely applied to decline-curve analysis (Cronquist 1991;Chang and Lin 1999;Cheng et al 2008;Gong et al 2014;Fulford et al 2016;Yu et al 2016). Purvis and Kuzma (2016) provides an overview of methods commonly used. However, the pure application of such algorithms still can result in biased estimates and frequently in overconfidence.…”
Section: Introductionmentioning
confidence: 99%