Total expected additional production discovery
Input(s)
\(K_{i \_ \text {add }}\): Number of Fields estimated to be discovered with additional number of Exploration Wells (dimensionless)
\(R_{u i}\): Total Production of an Average Size Field in Class "i" (bbl)
Output(s)
\(R_{u}\): Total Expected Additional Production Discovery in Selected Field Class (acres)
Formula(s)
\[
\mathrm{R}_{\mathrm{u}}=\sum \mathrm{K}_{\mathrm{i} \_ \text {add }} \cdot \mathrm{R}_{\mathrm{ui}}
\]
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: 79.