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.