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OIL PRODUCTION MODELS WITH NORMAL RATE CURVES

Published online by Cambridge University Press:  31 March 2011

Dudley Stark
Dudley Stark
Affiliation:
School of Mathematical Sciences, Queen Mary, University of London, London E1 4NS, United Kingdom E-mail: D.S.Stark@maths.qmul.ac.uk
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Abstract

The normal curve has been used to fit the rate of both world and US oil production. In this article we give the first theoretical basis for these curve fittings. It is well known that oil field sizes can be modeled by independent samples from a lognormal distribution. We show that when field sizes are lognormally distributed, the starting time of the production of a field is approximately a linear function of the logarithm of its size, and production of a field occurs within a small enough time interval, then the resulting total rate of production is close to being a normal curve.

Information

Type
Research Article
Information
Probability in the Engineering and Informational Sciences , Volume 25 , Issue 2 , April 2011 , pp. 205 - 217
Copyright
Copyright © Cambridge University Press 2011

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