The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 22, 2019
Filed:
Apr. 29, 2015
Apache Corporation, Houston, TX (US);
David Fulford, The Woodlands, TX (US);
APACHE CORPORATION, Houston, TX (US);
Abstract
A method for optimizing a well production forecast includes inputting into a computer: initial production rate measurements and probability distributions to estimate production forecast model parameters. The computer generates an initial forecast of fluid production rates and total produced fluid volumes using a selected production forecast model. After a selected time, the initial forecast is compared with actual production rate and total produced fluid volume measurements to generate an error measurement. Parameters of the selected production forecast model are adjusted to minimize the error measurement, thereby generating an adjusted production forecast model. The parameter adjustment and error measurement are repeated for a plurality of iterations to generate a plurality of production forecast models each having a determined likelihood of an error measurement. The plurality of production forecast models are displayed with respect to likelihood of error.