Question

1. (20 points) You are working for Valdez SpillProof Oil Company as a petroleum engineer. Your boss is asking you to estimate the future life of an oil well. The analysis used in the industry is called the decline curve analysis where the barrels of oil produced per unit time are plotted against time, and the curve is extrapolated. One of the standard curves used is harmonic decline model, that is 1 + at Where q is the rate of production and t is the time, "a" and "b" are the constants of the regression model. Time (t, Month 1 5 11 16 18 Rate of production (gl. Barrels per Day 258 185 109 84 71 Find the constants of the regression model. Hint: You are allowed to linearize the data if possible.

Answer 1

Given Rara The industy usrd ndectime curve anal y The cuyve +at + at The elatronohrp between z and t s linear wth

18 5 644 2-879 5 258-185-109サ84- 河 仁! ー1 3635 2661 ทุ

/ 258 165 109 84 5 894x10-3 5 a b b=350.68 = S brands Peal

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