Meterage model
Input(s)
\(F_{D}\): Total Meterage Drilled up to the date of Discovery \((\mathrm{ft})\)
\(a\): Ratio Constant (dimensionless)
\(R_{u}\): Total Expected Additional Discovery of Resources in Selected Field Class (bbl)
\(r_{u}\): Latest Rate of Growth for Discovered Resources (fraction)
Output(s)
\(d R_{D} / F_{D}\): Total Cumulative Discovered Resources per total drilled Meterage (bbl/ft)
\(R_{D}\): Total Cumulative Resources of Discovery (bbl)
Formula(s)
\[
\frac{\mathrm{dR}_{\mathrm{D}}}{\mathrm{dF}_{\mathrm{D}}}=\mathrm{a}\left(\frac{\mathrm{R}_{\mathrm{u}}}{\mathrm{r}_{\mathrm{u}}}-\mathrm{R}_{\mathrm{D}}\right)
\]
For Initial Conditions \(\left(F_{D}=0 ; R_{D}=0\right)\);
\[
\mathrm{R}_{\mathrm{D}}=\frac{\mathrm{R}_{\mathrm{u}}}{\mathrm{r}_{\mathrm{u}}}\left(1-\mathrm{e}^{-\mathrm{a} \cdot \mathrm{F}_{\mathrm{D}}}\right)
\]
Note: All Formulas need to be applied in each Field Class separately.
Reference(s)
Serpen, U., Petroleum Economics, Course Notes, ITU Petroleum and Natural Gas Engineering, Istanbul, Turkey, (2008) Page: 83.