GUIDE TO PRODUCTION FORECAST IN R3

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DECLINE CURVE ANALYSIS Decline curve analysis is a traditional means of predicting well performance and well life, based on real production data. R3 Graphics features the many necessary functions required to do quality decline curve analysis on assets. Various templates are available, including rate vs time and rate vs cum. There are five standard curve types that can be fit to historical data - linear, hyperbolic, exponential, harmonic and flat. Forecasts can be created with multiple segments. Walk mode allows the user to traverse up and down a fit to get details at any point in time, while the production data table gives monthly data of the fit in tabular form. Numerous culling options are available, making it very easy to include or exclude data.
ANALOGUE TABLE The analog table is a component which stores the parameters for decline curves. Each phase is shown, including any defined ratios, and each curve segment has its own line. Multi-segment forecasts can be handled as consecutive or overlapping. If you have a fully defined segment and you add an additional segment, then the starting date and rate values of the new segment are tied to the ending values of the prior segment. Or you can manually input the values for each segment, and stagger the starting dates as little or as much as you wish. The program will automatically calculate the undefined parameters for a forecast segment, after a user inputs enough parameters. ARCHIVE FORECASTS Comparing forecasts from year to year is often part of the workflow for engineers. R3 can store prior forecasts as Archives, making it easy to reapply them, and compare them on a graph with current forecasts. The Archive includes the data used in the fit so you can see why the fits may differ from each other. You can modify Archives to be shown in different colors for easy tracking.
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GUIDE TO PRODUCTION FORECAST IN R3

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