.

Usws
—
,,

TRE MATHEMATICS

DECLINE CURVES

PREPAAED
BY

JON BENEDICT
ECONOMIC ANALYST
XORTEX GAS & OIL COWANY
HOUSTON, TEXAS

---

==4
The paper “The Mathematics of Dee?ine Curves” has been prepared as an in
depth analysis of the development of declfne curves that quantify
petroleum production — the vital constituent to the ecmmfc evaluatfon
of petroleum ventures. The paper il1ustrates mathematical1y how three
types of equations originate from the relationship of production (Q) and
time (t) shown in equatfon 1 on page 4. The exponential equation fs
developed from tits basic fdea and then expanded fnto the hyperbolIc.
Finally, the hanaonfc whfch fs a unfque casa of the hyperbolfc is
produced.
..1 i J

This wrfting should be of value to those fnterested persons that have a

nesd to how the basic fdea or origfn frm which these fndust~ -
standard equatfons have evolved. Although inftfalIy they may appear to
be soiaewhatCOIZP1
ax, the reader wfl1 ffnd that the equat~ons are very
basf$. H are pmifcated on sound reasonfng and pmvfde the most
ef~fcient praafse from which ta evaluate future productf on.

Programmers, pmgmm users, engineers, geologists, economists, co~orata

PIanners and others wf11 ffnd that thfs docmentati on provides exhaustive
detafl that is seldom avaflable for ffttfng, extrapolating and
interpretingoil and gas production. Although actual production patterns
are expected to be trregular, the nethematics for their descm*ption fs
shown to be very precfse. This precision enables the user to exploft
tine-sating beneffts such as detemf nfng the 1ff e of a project given tts
decline percent, fnitial production, recoverablereserves and curve &/pe.

It should be noted that the final equations withfn thfs paper are
computational — and are therefore readfly adaptable to both computer
program and progmxnaabl
e calculators.
 .
.,

T& content of this paper could be separated into a three-part series.

parts one, two and three Wuld be exponential, hnerbol iC and hamonic~
respectively.

Jon Benedict
Economic Analyst

...! i .8
November 1, 1980
. .

THE MATHEMATICS

DECLINE CURVES

Production decline curve equations as presented in

exploration literature very often appear in some final
form without the benefit of theis derivations. The
relevancy of the author’s as~ertions may be restricted
,.
.1 .~
to a single application; however, to realize the maximum
potential of these equations, the mathematicti reasoning
behind them should be apparent to the use%. This oppor-
tunity to follow the sequential mathematical construction
of a particular idea gives the reader greater understanding
of the model and aUows him te manipulate the equations to
acc~odate his own ends.

This paper expands the mathematical reasoning behind tkee

production functions:

I. EXPONENTIAL
II. HYPERBOLIC
III. HARMONIC

and, in so doing, derives five variations common to each

(decline function, cumulative function, initial pmductiont
life of project and periodic function). In addition, ‘Ae
EXPONENTIAL includes a method of determining ~, the decline
rate.
 .
3ecline Curves
t?OVe.IILbC1, 1980
●
Page 2

J.J. Arps ~eviewed a chronology of publications from authors

that dealt with decline c-e analysis.x Among them were

R.B. Johnson and A.L. Bollens who in 1927 introduced the

loss-ratio method of extrapolating oil-well decline curves.
Their loss-ratio concept is defined as the production rate
per unit of time divided by the difference in that production
rate from,.thatof the preceding Sime period. This is iUu-
st=ated in Table 1.

1
J.J. -S, “Analysis of Decline Curves,” PETROLEUM
TECHNOLOGY, T.P. 1758 (September,1944)G
 Qecline Curves ●

November 1, 1980
.
Page 3

TABLE 1

LOSS IN LOSS RATIO

MONTHLY PRODUCTION [ON MONTHLY
MONTH YEAR PRODUCTION RATE DURING BASISI
RATE 6MTHs INTERVAL
Q Ao s = +.

ACTUAL
~LY 1940 460
JANUARY 1941 431 -29 -89.2
JULY 1941 403i -20 , -86.4
JANUtiY 1942 377 -26 -87.0
JULY 1942 352 -25 -84.5
JANUARY 1943 330 -22 -90’00
JULY 1943 309 -21 -88.3
JANUARY 1944 288 -21 -82.3

JULY 1944 269.4 -18.6 -86.8

JANUARY 1945 252.0 -17.4 -86.8
JULY 1945 235.7 -16.2 -86.8
JANUARY 1946 220.4 -15*3 -86.8
JULY 1946 206.1 -14.3 -86.8
JANUARY 1947 192.7 -13.4 -86.8
I

Average Loss Ratio July 1940 to Janua~ 1944, 86.8

Decline Percentage #g = l.is%

●

Table taken from “Analysis of Decline Curves” By J,J. Arps,

T.P. 1758, September 1944.
 Decline Curves
November 1, 1980
Fage 4
.

I* EXPONENTIAL

A. The Exponential Decline Function

Suppose a quantity Q ch-g@S at a rate which at

any instant of time t is proportional to the
amount of Q present at that instant- This is
expressed by the differential equation

4LAQ
dt u
“ (EQ. 1)

where l/a is the proportionality constant. If the

amount of it present at t = O (time zero) is Q* (the
quantity at time zero), the initial conditions

Q=QO at

prevail for evaluating the constant of integration,

C, which enters when EQ. 1 is integrated.

with declining production the mathematical statement

of the immediate probl~ consists of the differential

equation

(EQ. 2)
 Decline Cmes
Novembeg 1, 1980
Page 5

with the initial condition

Q-Q o att=oo

The problem is to determine a statement fo% Q.

Hence, beginning with EQ. 2, rearrange and
integrate

,..!

lnQ+t+c
(EQ. 3)

During indefinite integration the asbitmry constant

C, which always enters when a differential equation
is integrated, pxoduces a family of “parallel” cuzves
as C is assigned vaxious values. This causes vezticle
shifting of the cume which is illustrated in figure 1.

.
,’

Decline Cu~es
November 1, 1980 .
?age 6

+
\

....7 i

FIGURE 1

Therefore, imposing an initial condition or

designating any point (te, Qa) est~lishes that
there is one and only one cuzve of the family
that passes through tiaatparticular point.
It folLows that specifying Q = QO at t = O
singularly defines the value of C. Introducing

this idea and solving for C in EQ. 3 produces~

1
—t + c
lnQ a

lnQO -+(0) +C

lnQ~ c.
*
 Decline C-es
November 1, 1980 .
Page 7
.

Substituting this value of C back into EQ. 3 yields

hQ - .& + lnQC

lnQ - lnQO = ~

,...,

(EQ. 4)

This is the expression that describes an exponential

decline curve 0= negative expmential funotion, where

Q A quantity present at the t

Q. That quantity present at timet=O

(Q - intercept).

Proportionality constant or exponential

decline pexcent.

a Loss - ratio.
t Time
in Log to Base e
,’

Decline Curves
J{ovembes 1, 1980
?age. 0
●

B. The Exponential Cumulative Function: Qc

The exponential cumulative fwction~ Qct is fo~d by

integrating EQ. 4 subject to the initial cendition

t=to=()

This in effect specifies C as the Q-Intercept of

,.thecurve at a ttie whqm cumulative production equals
ze%o~ or Qc = 0. It follows that Srom Ea. 4,

Qc = fQ,dt= fQ@e ‘dt.

Relying on the following standa%d fem for expediency, “

fe”du = e“ + C

where

u=+
du = -+

dt = -adu
 .

Decline Curves
:lovember1, 1980
Page 9

then,
~

Q= = fQdt = fQOe ‘dt = -aQ6feudu

t
Y +C (EQ. 5)
Q= = Qt = ‘aQoe
(0)
o = Q(o) = -@oe = + C

Substituting tlxisvalue of C back into EQ. 5 yields

&
Q= = -sQoe Q + UQo

(EQ. 6)

which is the exp~ession for the exponential cumu-

lative function. In effect, this function measures
the area bounded by the t-axis and the exponential
curve~ between tO = O and t = tl. Here, area may
take the meaning of recoverable reserves as illustrated
in Figure 2. By stipulating that Q= = R, where R
represents recoverable reserves and L sepxesents ‘the
Life of a project, EQ. 6 abovetakes the form of EQ. 7.
,.
,.. Decline Cues
~ovember 1, 1980 .
Page 10
.

starting with EC).4 and performing definite inte-

gration by imposing the limits to = o to t~ = L,
*
QAe
u
u

&
R &Qdt = $~QOe ‘dt (see Figuse 2)

-k ~
R aQO{-e a + C - (-e a +
i ●

“J~”
R aQO{l - e ‘3 (EQ. 7)

which is exactly the same equation as EQ. 6 with the

exception that L has zeplaced t. Notice that since
limits wese imposed to find EQ. 7, the constant af
integration cancels. This is as definite

integration.

c. Initial Production: Q.

By rearranging EQ. 7, the initial production

beginning of decline is

QO=RA
a(l-e a, (SQ. 8)
Decline Curves
November 1, 1980
Page 11

D. Life of the Project: L

The life of the project from the beginning of

the decline to the economic limit, L, is, from
EQ. 7 .

L
--
aQo{l - e a}

L
L-ea J“ .7 $

L
--
ea 1-+
o

R
ln{l - q}

L -ain{l (EQ. 9)

.
..
 Decline Curves .
Xovember 1, 1980
. Page 12

Q 4;

,Area under curve

f~Qdt = ‘between zero and. L
.- t
{Curve

I t
L

FIGURE 2
RECOVE~LE RESERVES
 .

Decline Cu2ves .
November 1, 1980
Page 13
.

E. Exponential Periodic Function: Qi

The periodic (monthly, annual~ etc.) production, Qi,

may be genesated by taking the difference in cumulative
p~oduction between successive time periods, ti-l and
tip hy applying EQ. 6 whe%e Qi represents the quantity
produced in the ith time pe~iod. Instead of employtig
this method, however, EQ. 10, below, would provide a
+:
more direct calculation *OS Qi.

Proceeding from the expression for exponential decline,

EQ. 4, integ%ate with respect to t from t+.-,to t,.
Again, imposing Mmits implies definite i;&ati&
during which the constant of integration cancels.
Therefore, progressing through the integration process
brings about

*b

Q =Qeo T

ti ‘“
;~
‘i
Qi = ‘ti-~ Qdt = r* Q-e adt

k. t.
.— z 1-1
Qi = aQo{-e = - (-e = ‘) )

(&Q. 10)
. 12eclineCurves .

November 1, 1980
, Page 14

Q
J.

Q.
ti ‘~ .Area between
Qi
= ‘ti-~Q Oe dt ‘ti-l and ‘i
\ /’

FXCXIRE 3

PERIODIC PRODUCTION
Decline Curves
November 1, 1980 ●

Page 15

which is the expression for the periodic function

for exponential decline between the limits ti-l
and ti. Qi is depictsd in Figure 3.

F. The Exponential Decline Rate: ~1

As an addendum to the foregoing material, the

following problem will emphasize the essence
of understanding the intrinsic value,;un~erlying
J*
the exponential equation.

1
Suppose it becomes necessary to solve foz ~, the
proportic~ality constant, or the exponential decline
rate. EQ. 7 would by necessity be the base equation
fsom which to work. The reasen is that * is forced
to be ●
nique to the recoverable reserves R. EQ. 7,
however, poses a cliff
iculty. Since a appears in the
exponent and is a multiplier at the same time in the
functional relation of EQ. 7, it would be difficult
if not impossible to solve for explicity. EQ. 7 is
stated as
-...
&
R = GQQ{l - e a} ●

Instead of using a time-consuming itexative process

1 the following method
to converge on the value of ~,
is proposed.
 ~ecline Cumres .
November 1, 1980
. Page 16

Assume that reserves in place, T, and recoverable

reserves, R, have been predetermined. Define K
as the percent of reserves in place that are
recoverable. The relationship is described as

R = KT.

Furthermore, as shown in figure 4, define reserves

in place, T, as J. ,; :
&
T = \~QOe ‘dtO

Although this integral measuzes an infinite area

in theory, fos the immediate psobLem it has been
defined to equal T when extended to its Mmit.
This important concept is interesting because it
causes ~ to be unique in describing the decline of
an exponential function that when integrated equals
reserves in place. The area descsibed by T above
after integration is

T = aQO.

This may be seen in the fo120wing calculations:

 .
Decline Cueves
November 1, 1980
. Page 17

whese
o
--
ea=l

and
9
0-

ea=— 1
9

z
e \
1
= infinitelylarge number.

=0

aQoie

aQo{l - o}

aQ*

In other words, total reserves in place, T, has

been explained in terms of the initial production
rate, QO, and the decline rate, ;1 or loss ratio a.
R has alxeady been defined in EQ. 7 where R is the
area of re~overable reserves. From this it follows
that
Qecline Curves ●

November 1, 1980
Page 18

Q
I

t
o

FIGURE 4
RECOVERABLE RESERVES
RESEhVES IN PLACE

Q
k Recoverable
Where:

u: Reserves in
 Decline Curves ●

November 1, 1980
Page 19
.

R = KT

R
K == &

and by substitution,
-&
<Qae “dt
K=—
t
f~QOe-Fdt

&
e= ● (EQ. 11)

By rearrangement of terms in Eq. 11, $ is easily

isolated:
-- Q
K= l-e”

L
0-
e== 1 -K

L
-= -in{1 - IQ (EQ. 12)
a ....

-ln{l - K]
L (EQ. 13)

or, solving for L:

L = -aln{l - K} . (EQ. 14)

—
~Decline Curves .
November 1, 1900
Page 20
.

II. HYPERBOLIC

A. The Hyperbolic Decline Function

From Table 1, the loss-ratio, a, is defined as

the production rate per unit of time divided
by the difference in that production rate from
that of the preceding time period. Translated
mathematically, ;
J.

(EQ. 15)

If u is a positive constan~, then the expression

is exponen~ial. The reasoa— because EQ. 15
is identical to EQ. 2 which proves to be exponential.

If, however, the first differences of the loss-ratio,

6, are constant, the expression is that of the
hyperbolic type shown below

Q
d@j7’@ = -s
dt (EQ. 16)
.

where 8 is the first derivative of the loss-ratio.

This is shown in Table 2.
 Decline Curves
● November 1, 1980 ●

Page 21
●

TABLE 2

MONTH MONTHLY ;0SS IN LOSS RATIO FIRST

PRODUCTION >RODUCTION 3N MONT=Y DERIVATIVE
RATE WTE DURING BASIS OF LOSS
; MONTHS RATIO
Q L
‘=6AQ

JAN 1937 28,200

mJLY 1937 15,680 -12,520 - 7.52
JAN 1938 9;700 -. 5,V980 T 9+72 -0.37
JULY 1938 6,635 ~ 3,065 -12.97 -o 54
●

JAN 1939 4,775 - 1,860 -15.39 -0.40

mY 1939 3,628 - 1,147 -18.96 -0.59
J.AN 1940 2,850 778 -21.96 -0.50
.mY 2940 2,300 550 -25.08 -0.52
JAN 1941 1,905 395 -28.95 -0.64
nLY 1941 1,610 295 -32.76 -0.63
JAN 1942 1,365 245 -34.43 -0.28
mY 1942 1,177 188 -36.97 -0.42
JAN 1943 1,027 150 -41.15 -0.70
~LY 1943 904 123 -44.20 -0.508
JAN 1944 802 102 -47.2S -0.508
JULY 1944 717 85 -50.30 -0.508
JAN 1945 644 73 -53.35 -0.508
JULY 1945 582 62 -S6.40 -0.508
JAN 1946 529 53 -59.45 -0.508
JULY 1946 483 46 -62.50 -0.508
JAN 1947 442 41 -65.55 -0.508
JULY 1947 406 36 -68.60 -0.508
JAN 1948 375 31 -71.65 -0.508
JULY 1948 347 28 -74.70 -0.508
...

I I
Table taken from “Analysis of Decline Cues” by J.J. Arps,
T.P. 1758, Sept., 1944
 .
.,

Decline Curves .
November 1, 1980
. Page 22

AfteZ equating B to the change in the loss-ratio,

the problem once more becomes one of finding a
representation of Q. Integration“of EQ. 16 leads
to

Q
amE””t3t+~ ●
(EQ. 17)
d
J.

Interpreting C, the cunstant of integration,

find

att=O,
Z&Z.
with EQ. 17 n

=C

but from EQ. 2 and EQ. 15

& = -a.
....,
Therefore,

whese aO is translated as positive constant

repre==nting the loss-ratio at t = O or?
graphically, the Q - intercept fos EQ. 17.
 Decline Curies ●

November 1, 1980
●
Page 23

substituting this value back into EQ. 17 yields

‘& = -Ot -a. ●

rearranging,

= -St -a
‘%% o

Q “-$t‘aO
m=~ J.

~=- at
Q ‘.

FinaLly, a second integration the above

differential will specify Q:

.
Substituting the above equation in a standard
form in terms of u and du, and realizing that
since the following formulation holds,
.
fq~lnu+c
u

where
 .
Decline Curves
November 1, 1980
. Page 24

then:

lnQ = -#nu + C

=1-#n(l i=$%+ C ,; (EQ. 18)

, 0“”

The constant of integration, C, is evaluated

subject te the initial conditions

Q= QOatt=O

to yield

= -+(l) +C
..,.
=O+c

=C

Substituting lnQO = C back into EQ. 181 Q is

determined:
 :Decline Curves
November 1, 1980
. Page 25

lnQ - lnQ~ = -lLn(l + ~)

o
in(+) = -~~n(l + +)
o 0

--1
0

&al ; ‘E**”) ‘
Which is the expression for the h“erbolic decline
function.

B. The Hyperbolic Cumulative Function

The h~erbolic cumulative function Q. is obtained

k

by integrating EQ. 19,

1
Q = 00(1 + $)-F
o
1
Q= = tQdt = fQO(1 + +). “Fdt.
o
By setting the above equation in standard fonu
in terms of u and du, the f~liowing formula
 Decline Curves
“November 1, 1980
Page 26
.

where

may be used to evaluate Q= in the following manner:

J .* ,: ~
UOQO
Qc=Qt= ~fundu

, (EQ. 20)

The constant of integration, C, is evaluated

sukject to the initial.condition

t=o.
..
 Decline Curves ●

November 1, L99U
Page 27
●

Therefore:

UOQC,
()= —-(1) + c
$(1 - ~)

UOQO
c=-”
0(2 - + ●

Substituting the value of C.back into.~EQ.20, yields

aoQo +
Q= = 1
(1 + +) aoQo

3(1 - o - 8(1-+)
3)

(EQ. 21)

%*hichis the expression for the hyperbolic cumulative

function.

By the same reasoning that was used for the exponential

cumulative function, designate 50Z the hyperbolic that
Q= = R where R is the symbol fos recoverable reserves
and set limits for t = O to t“= L which constrains &he
area under the hyperbolic curve to the Life (L) of the
project. By starting with &Q. 19 and perfoming definite
integration,
 Decline Curves ●

November 1, 1980
● Page 28

1
--
6
QO(l + ~)
o

R=

and reviewing the above equation in terms of u and du,

where

U=(L+ +)
o

du = *t
o

dt = ~u

then,

1
aQ
1-*
~= 00 (1++) 1:
!3(l- +) 0

l-~
aoQo ,
R=m-=Tf(l+~ -l}. (EQ. 22)
 .

Recline Curves .
November 1, 1980
. Page 29

This duplicates EQ. U except that in the case

Of EQ. 22, t iS L, the life of the project.
Eq. 22 measures recoverable hyperbolically.
..

c. Initial Production

Q. may be segregated by the rearrangement of EQ. 22 ●

.
Q.
u
is the value of Q att= o:

.-
i .$

1
R +
g, . 1}
a“
o

R(6 - 1)
Q.
1-*
Uo{(l + &8L Q
1} . (EQ. 23)
.,

D. Life of Project

The life of the project from beginning of decline to

the economic limit is detemined by solving for L in
EQ. 220 EQ. 22 is used here because recoverable .

reserves, R, expressed in terms of Life, L.

UOQO
R [(1+
= m) ‘o
9
a R(3 - 1) 9 -1
L ~{ (~ + 1) -1) ● (EQ. 24)
‘8
00

+
 .
Decline Cusves
:{ovember1, 1980
.Page 3!I

E. The H~exbolic Periodic Fundtien

AS in the exponential case, hyperbolic periodic

production, Qi# may be generated by t*ing the

difference in cumulative production between the

time periods ti-l ~d ti wi* the fid of EQG 21?
the cumulative function. Iastead of engaging this
methodr however? EQ. 25 should provide a direct
i J
calculation foe Q:.
*

Beginning with the expression for h~erbolic

decline, EQ. 19, integrate with respect to t
using definite integration, thus eliminating
the constant of integration, C. Ewoeeeding,

1
--
Q= Qo(l+#
0

1
A

ti
m) 7
Q*
‘1
= f:i Qdk = ‘ti-L Q(l+—
o a
i-1 o

in &ems of u and du

ti ~ ~n+l t.
,n$l
‘ti-~‘du=n+lti-~ la
 Decline Cu~es ●

November 1, 1980 ~
.
Page 31

where

U=(l+T) St

d~ a -@

then

~oQo ti
~r undu
‘i-l

1
UGQO 49
100
(1
0 (1- ~) 1=
ti-~

l+ l-f
UOQO Bti $ti-l
Qi= ~r{(l + ~) -(1+ —)
a
}
o o
%
(EQ. 25)

the expression for the periodic function for

—

Decline Curves .
November 1, 1980
Page 32
.

III. HARMONIC

A. The Harmonic Decline Function

By postulating that 6 = 1 in EQ. 19 the Harmonic

function materializes

-t
1

Q= Qo(l+& CJ
o
i
...”
“’ +“
=Qo (l+= (1) t)
o

(EQ. 26)

which is the expression for the Harmonic Decline.

B. The Harmonic Cumulative Function

The cumulative function may be realized by the

indefinite integration method beginning with EQ. 26:

Q.
Q= = fQdt 1~
(1+ +) t ●

o
 Decline Curves .
November 1, 1980
Page 33
.

Again, Performing the above integration using u and du

as surrogates to expedite the procedure via the
relationship,

whese

Then it follows that,

du
Q= = Qt = aOQOf~

(EQ. 27)
 Decline Curves .
. N&mnber 1, 1980
Page 34
●

By the initial condition

t=o

the constant of integration becomes

Q= = Q(o) = u00
Q In(l + +)+C
0
..,.
i .J
s

O = aoQo~(l + 0) + c

= aoQoh(l) = C

= aoQo(0) + C

C=()

substituting C = O back into EQ. 27

Q= = aoQoln(l + ~) + o
o

I Q= = @oQo~n(l + ~)
o I (EQ. 28)

which is the expression the Harmonic Cumulative

Function.
 Decline Curves .
November 18 1980
Page 35
.
*

As before, in Exponential and Hyperbolic, by declaring

that Q= = R, subjecting EQ. 26 to the limits t = O to
t = L, perfo~ng definite integration,

Q.
Q=
1++
o

L
a
o

and USiIlg the standard form with u and du,

~Ldu
~~ = lnu[:

where

u=l+— t
a0

du = +
o

dt = aodu
.
.
Decline C-es
November 1, 1980
. Page 36

The following is revealed:

= aoQo\n(l + +/ - aoQoln(l + +)
.,.1 .J o 0

= tzoQoln(l + +1-0
o

(EQ. 29)

This is a duplication of EQ. 28, except for portraying

R as Q= and L as t. In othes words, this relationship
states the Recoverable Reserves (R) in terms of Life (L).

c* Initial Production

The in.itiaLproduction rate, Q. t derived by

rearranging EQ. 29.
.

R
Q. =
Uoln(l + +) 9
o
 . .
P
Decline Curves
November 1, 1980
Page 37
●

1
D. Life of the !?%oject

The life of the project from the beginning of the

determined by solving L in EQ. 29.

* L_
c)
o

,,.“

+~=
1 u
o

L= 13 ● (EQ. 32)

E. The Harmonic Pe%iodic Function

For the same reasoning that was established foe the

derivation of the Exponential and Hyperbolic curves,

a periodic f~ction for the Harmonic curve should

also be created. Beginning with the expression for
.
the Harmonic Decline — EQ. 26, integrate with
respect to t from ti-l to t..
a
 d

Q s ,+,

(l+—
td
0

Qi = J’ti
‘i-
Qdt = f?
t.
‘o ~t
1 L-1(.I+ +)
o
.

in terms of u and du

u= L++
o

du = tit
o

dt = a,du
&
 .

Recline Curves .
November 1, 1980
. Paqe 39

It is evident that

t.
..: =iaoQo}n(l + .L)~t~ ,
0 i-l

= uOQo{ln(l + >) - M(1 +

o

t,
1++
Qi = aoQoln{ }
t.
1++ (EQe32)
–o
.

SYMBOLS

A quantity (production rate) present at time t.

Initial production rate. QO is that quantity present at

t=O or the Q-intercept as shown in Figure 2, Page12.

Cumulative production from t=O to t=t.

A

Periodic production from t i-~ to ti. (periodicmay mean

month~y? annual~ etc.).

Constant
: of integration.

Life of a project.

Recoverable reserves.

Resesves in place.

t Time.

to Time zero. tO oz t=O may be found on the t-axis in

Figure 2, Paqe i2..

ti Time period i.

c. The time perind that directly precedes time period i.

L-1

a The loss-ratio which is defined as the production rate

per unit of time divided by the difference in that
production rate from that of the preceding time period.
a ,maybe shown as an example on Table 1, Page 3 .ar
quantatively as:
 ,
.
symbols (Cent’d)
●

-
.
:1.‘$-
.w”- i
.-

Proportionality constant or Exponential decline percent

First difference ot a (the loss ratio). 6 may be shown as

an example on Table 2, page21 0s quantitatively as:

d (“a’)
dt

in Natural 10~MithXt or log to base e.

e Base of natural logarithm.

e = .2.7183 i .J

Denotes a differentiable function of some independent

vaxiable (say of t). u is used to simpli.Eythe integration
process.

a.
 BIBLIOGRAPXY
.

.ARPS, J’J. “Analysis of Decline Cxmres.”

?etro~e~ Tec~o~oqv. T.P. 1758
Septembe%, 1944.