Abstract:Please scroll down for article-it is on subsequent pages With 12,500 members from nearly 90 countries, INFORMS is the largest international association of operations research (O.R.) and analytics professionals and students. INFORMS provides unique networking and learning opportunities for individual professionals, and organizations of all types and sizes, to better understand and use O.R. and analytics tools and methods to transform strategic visions and achieve better outcomes. For more information on INFORMS… Show more
“…The production rate versus time curves are commonly represented by either exponential or hyperbolic decline curves (see, e.g., Friar and Devine, p. 1372). Extensions of these models are considered by Devine [15] and Lilien [24]. Durrer and Slater [16] survey recent literature on the application of operations research techniques to petroleum and natural gas production problems.…”
Section: Brief Literature Reviewmentioning
confidence: 99%
“…These accounts for developed by assuming optimizing competitive behavior for the process as whole and using the shadow prices on the constraints relating activities as the appropriate transfer prices between the activities. 15 Shadow prices on inventory requirement constraints are the unit production allowances for financing these inventories net of holding gains.…”
Section: -19)mentioning
confidence: 99%
“…Asset/product prices yQ = vR + aR, if q > 0, (4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14) vR = vD + aD, if f > 0, (4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14)(15) (operating income) = (depletion) + (inventory allowance).…”
“…The production rate versus time curves are commonly represented by either exponential or hyperbolic decline curves (see, e.g., Friar and Devine, p. 1372). Extensions of these models are considered by Devine [15] and Lilien [24]. Durrer and Slater [16] survey recent literature on the application of operations research techniques to petroleum and natural gas production problems.…”
Section: Brief Literature Reviewmentioning
confidence: 99%
“…These accounts for developed by assuming optimizing competitive behavior for the process as whole and using the shadow prices on the constraints relating activities as the appropriate transfer prices between the activities. 15 Shadow prices on inventory requirement constraints are the unit production allowances for financing these inventories net of holding gains.…”
Section: -19)mentioning
confidence: 99%
“…Asset/product prices yQ = vR + aR, if q > 0, (4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14) vR = vD + aD, if f > 0, (4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14)(15) (operating income) = (depletion) + (inventory allowance).…”
“…Drilling and completion is a very important step of the development phase [18][19][20][21][22]. Once the drilling rig is assembled on site, drilling process begins.…”
Section: The Oil Well Construction Processmentioning
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