Abstract

Traditionally reserves management has been an exclusive function for Reservoir Engineers; however in mature fields the need to involve Production, Facilities, Geology, Operations Engineers and Financial Analysts is critical. This paper presents a suggested workflow to improve the way reserves are evaluated, supported, booked and documented with a concerted effort of a multidiscipline team. This paper is focused on tight gas reservoirs and the central idea is to reduce the uncertainty that is always present when dealing with reserves.

Most of the discussion is concentrated in understanding and verifying the hyperbolic decline "b" factor to be used for production decline analysis; we normally understand the mathematical meaning, but very rarely spend the time understanding the physical meaning and the consequences of using the wrong value. Once the "b" factor is defined, the proper documentation must be filed for each reserve record and the focus becomes the economic analysis of those reserves which is critical for future development especially in a very volatile economy in which prices are fluctuating a lot.

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