How to enter Modified Hyperbolic parameters onto Analog table

This example uses a new Asset to enter a Hyperbolic analog and convert it to a Modified Hyperbolic. A modified Hyperbolic is a combination of a Hyperbolic switching to an Exponential at a set percentage decline. The oil phase instance is used because the lighter background provides a clearer picture of the calculated values versus the input values.

Randy Strauss
16 steps
2 minutes

Select the Asset.

Select the Production Forecast form.

Observe that the default display for a nonexistent analog is EXPONENTIAL.

Select Hyperbolic. This example will create a valid hyperbolic analog first.

Upon selecting HYPERBOLIC a default b Factor of .5 is displayed. This example is going to use the default.

Select the Dei input field, type "50" and then press the enter key. Next Select the Start Date.

This example is going to use the existing Start Date. Select the initial rate field, qf.

Type "500" and press the enter key.

Select the qf field. This example is going to use these fields to define a hyperbolic analog.

Type "1" and press the enter key. This example is using a low rate in defining the hyperbolic. The reason for using a low rate could be to let R3's economic cut off to determine the production limit during a model evaluation.

Observe that the Dmin of the fully define hyperbolic is 0%. This analog is a pure hyperbolic not a modified hyperbolic at present.

Observe the calculated Seg. REM, REM and EUR.

Select the Dmin.

Observe the Dend for the existing hyperbolic. Type 7 and press the enter key. The Dmin decline limit has been set to 7%.

Observe that the Dend and the Dmin are the same 7% value

Observe the Seg. Rem, Rem and EUR of the modified hyperbolic.

Tip! The remaining production is less because the exponential decline did not flatten out as the curve change of the hyperbolic did. Thus the modified hyperbolic reached the decline minimum faster as well as produced less.