2017
DOI: 10.4236/oalib.1104053
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Statistical, Data-Driven Approach to Forecasting Production from Liquid-Rich Shale Reservoirs

Abstract: The oil and gas industry needs fast and simple techniques of forecasting oil and gas production. Forecasting production from unconventional, low permeability reservoirs is particularly challenging. As a contribution to the continuing efforts of finding solutions to this problem, this paper studies the use of a statistical, data-driven method of forecasting production from liquid-rich shale (LRS) reservoirs called the Principal Components Methodology (PCM). In this study, production of five different highly vol… Show more

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