Decline curve generated by decline curve analysis software, utilized in petroleum economics to indicate the depletion of oil & gas in a petroleum reservoir.
Decline curve analysis is a means of predicting future oil well or gas well production based on past production history. Production decline curve analysis is a traditional means of identifying well production problems and predicting well performance and life based on measured oil well production.[1][2] Before the availability of computers, decline curve analysis was performed by hand on semi-log plot paper. Currently, decline curve analysis software on PC computers is used to plot production decline curves for petroleum economics analysis.
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- ^ Lee, Se Yoon; Mallick, Bani (2021). "Bayesian Hierarchical Modeling: Application Towards Production Results in the Eagle Ford Shale of South Texas". Sankhya B. 84: 1–43. doi:10.1007/s13571-020-00245-8. S2CID 234027590.