Total new production area estimation expected to be discovered
Input(s)
\(K_{i \_ \text {add }}\): Number of Fields estimated to be discovered with additional number of Exploration Wells (dimensionless)
\(A_{i}\): otal Area of Discovered Fields in Field Class "i" (acres)
Output(s)
\(A_{i \_ \text {add }}\): Total Area Estimated to be discovered in Selected Field Class (acres)
Formula(s)
\[
\mathrm{A}_{\mathrm{i} \_ \text {add }}=\sum\left(\mathrm{K}_{\mathrm{i} \_ \text {add }}\right) \cdot\left(\mathrm{A}_{\mathrm{i}}\right)
\]
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: 81.