Bottom-up Aggregation of Field-Level Oil Production Profiles via a Successive Sampling Discovery Model and a Birth Process: An Application to the Gulf of Mexico and Norway
Moritz Tarach
Abstract:We formulate a stochastic bottom-up model for the rate of oil production in a region by combining a size-biased sampling model of the discovery process (Barouch-Kaufman model), a birth process model for the discovery times, and field-level production profiles. For the size-biased sampling model we make the usual assumptions plus the assumption of a truncated field-size distribution and a Poisson prior distribution for the total number of fields. We then propose two approaches by which the size-biased sampling … Show more
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