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ProdProf

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Category:

Petroleum Economics

6

Family:

Decline Curve

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Arguments:

Time, Base, ResvsOrDcRate, FromDates, AnnualRates, DeclinePoint, AbandonRate, [DeclineParam], [DayCount], [Periods], [ProjMode], [PPSwitch]

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Meaning:

Generate an oil production profile based on pre-determined production rates and a decline curve

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Description:

The function generates a complete production profile for an oilfield from the first production, through the plateau period, into the decline and to abandonment.  It works by first of all doing a stepped constant rate as production builds up.  Production stays at the last Annual Rate until the proportion of reserves depleted equals DeclinePoint.  This might typically be 40-60% of reserves.  Then the profile goes into decline, and you can choose between exponential decline (the default), harmonic decline or hyperbolic decline where you choose the exponent.  The profile automatically completes when the abandonment rate has been reached and there are no more reserves.

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Base

12 months

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Reserves

100 mm bbl

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FromDates

May 01

May 02

May 03

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AnnualRates

02 mb/yr

05 mb/yr

10 mb/yr

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DeclinePoint

50.00%

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AbandonRate

2.0 mb/yr

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DeclineParam

1

Decline Point (for Info)

3 Sep 07

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DayCount

Omitted

5

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Periods

Omitted

4

Given a Decline Rate instead

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Of A Reserves Figure

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(0.3219)

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As an Accruals Function:

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ProdProf

CrossCheck

ProdProf

ProdProf

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Function

FStep

Decline

Function

Function

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Exponential

Function

Function

Harmonic

Harmonic

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Jan 01

1.3 mb/yr

1.3 mb

1.3 mb/yr

For Info

1.3 mb/yr

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Jan 02

3.9 mb/yr

3.9 mb

3.9 mb/yr

Decline Rate

3.9 mb/yr

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Jan 03

8.1 mb/yr

8.1 mb

8.1 mb/yr

0.32

8.1 mb/yr

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Jan 04

10.0 mb/yr

10.0 mb

10.0 mb/yr

10.0 mb/yr

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Jan 05

10.0 mb/yr

10.0 mb

10.0 mb/yr

10.0 mb/yr

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Jan 06

10.0 mb/yr

10.0 mb

10.0 mb/yr

10.0 mb/yr

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Jan 07

9.9 mb/yr

6.7 mb

3.2 mb

9.8 mb/yr

9.8 mb/yr

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Jan 08

8.8 mb/yr

12.0 mb

7.9 mb/yr

7.9 mb/yr

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Jan 09

7.5 mb/yr

19.4 mb

6.3 mb/yr

6.3 mb/yr

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Jan 10

6.4 mb/yr

25.8 mb

5.2 mb/yr

5.2 mb/yr

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Jan 11

5.4 mb/yr

31.2 mb

4.5 mb/yr

4.5 mb/yr

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Jan 12

4.6 mb/yr

35.9 mb

3.9 mb/yr

3.9 mb/yr

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Jan 13

3.9 mb/yr

39.8 mb

3.5 mb/yr

3.5 mb/yr

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Jan 14

3.4 mb/yr

43.1 mb

3.1 mb/yr

3.1 mb/yr

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Jan 15

2.9 mb/yr

46.0 mb

2.8 mb/yr

2.8 mb/yr

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Jan 16

2.4 mb/yr

48.4 mb

2.6 mb/yr

2.6 mb/yr

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Jan 17

1.6 mb/yr

50.0 mb

2.4 mb/yr

For Info:

2.4 mb/yr

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Jan 18

50.0 mb

2.2 mb/yr

Abandonment

2.2 mb/yr

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Jan 19

50.0 mb

2.1 mb/yr

Date

2.1 mb/yr

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Jan 20

50.0 mb

0.2 mb/yr

6 Feb 20

0.2 mb/yr

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Jan 21

48

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100 mm bbl

50 mm bbl

505 mm bbl

100 mm bbl

100 mm bbl

50

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As a Cash Function:

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ProjMode

1

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Periods

3.01

9.01

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ProdProf

ProdProf

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Function

Function

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Exponential

Harmonic

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Jan 01

1.6 mb/yr

1.6 mb/yr

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Jan 02

4.4 mb/yr

4.4 mb/yr

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Jan 03

9.0 mb/yr

16.5 mb/yr

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Jan 04

10.0 mb/yr

18.3 mb/yr

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Jan 05

10.0 mb/yr

17.3 mb/yr

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Jan 06

10.0 mb/yr

16.5 mb/yr

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Jan 07

9.8 mb/yr

15.9 mb/yr

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As a Cash Function:

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ProdProf

ProdProf

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Function

Function

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Exponential

Harmonic

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Jan 01

1.6 mb/yr

1.6 mb/yr

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Jan 02

4.4 mb/yr

4.4 mb/yr

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Jan 03

9.0 mb/yr

16.5 mb/yr

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Jan 04

10.0 mb/yr

18.3 mb/yr

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Jan 05

10.0 mb/yr

17.3 mb/yr

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Jan 06

10.0 mb/yr

16.5 mb/yr

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