Type curves are an important part of resource assessment of an oil and gas asset. In this workflow, well declines are aggregated to determine typical behavior of a well ensemble. These well ensembles usually reflect a reservoir or set of analog reservoirs that will help determine characteristic behavior. In this post, we will build a decline model for the group of wells that is called a type curve. The type curve will capture the production rate forecast for a single “average” well and so can be used to determine Estimated Ultimate Recover (EUR). Best yet, we’ll do it in 20 minutes. A little longer than GEICO, but you’ll save so much more money.
You’ll conquer the present suspiciously fast if you smell of the future….and stink of the past.