Probabilistic decline curve analysis: state-of-the-art review
The decline curve analysis (DCA) technique is the simplest, fastest, least computationally
demanding, and least data-required reservoir forecasting method. Assuming that the decline …
demanding, and least data-required reservoir forecasting method. Assuming that the decline …
Using Bayesian leave-one-out and leave-future-out cross-validation to evaluate the performance of rate-time models to forecast production of tight-oil wells
Production forecasting is usually performed by applying a single model from a classical
statistical standpoint (point estimation). This approach neglects:(a) model uncertainty and (b) …
statistical standpoint (point estimation). This approach neglects:(a) model uncertainty and (b) …
Averaging predictions of rate-time models using Bayesian leave-future-out cross-validation and the Bayesian Bootstrap in Probabilistic Unconventional Production …
Two main limitations occur when selecting a model with the best predictive accuracy over a
set of candidates to extrapolate future production of wells. First, from a Bayesian standpoint …
set of candidates to extrapolate future production of wells. First, from a Bayesian standpoint …