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.