This articles gives an overview of the data points that can be found in the Production Forecast Summary Record.
Production forecast summary records roll up the forecast data for various spans of time. Examples include oil & gas production/forecast over spans of 5 year, 10 year, 15 year, 20 year, 25 year, and more.
EUR Forecasts by Time Period
Estimated Ultimate Recovery (EUR) is calculated for multiple time periods:
- 5, 10, 15, 20, 25, and 30 year forecasts
- Next 5 and 10 year forecasts
For each time period, the following metrics are tracked:
- BOE (Barrel of Oil Equivalent) using BOE factor of 6 MCF/ 1 BOE
- Oil, Gas, and Water forecasted volumes
- Confidence scores (0-100) based on known production history
Best Fit Parameters
For each production stream (Oil, Gas, Water), the following parameters are calculated:
- Initial Rate: Initial production rate used in best fit decline
- Initial Decline: Initial decline rate used in best fit decline
- B Value: Best B value based on mathematical fit to existing production
- R²: R-squared fit of the best fit decline parameters for the volume. Values: 0-1 with 1 being an exact fit
- Terminal Decline Rate: Terminal decline percentage
- Terminal Breakover: If terminal decline, effective decline rate when terminal decline for the volume is reached
Record Management
- ID: Internal unique Identifier
- Internal Id: Unique record identifier as an integer for quick querying
- Well Id: Unique well identifier
- Simple Id: Integer-based well identifier for quick querying
- Date Created: Initial record creation date
- Date Last Modified: Most recent modification date
- Date Catalogued: Date and time record was catalogued into the export database
Data Model
The schema in our data model provides a complete and detailed framework for capturing and analyzing the data available in WellDatabase.
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