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The rate-time profile used to evaluate new unconventional wells is usually based on an average of similar wells, captured as a type well. In practice, the drilled wells seldom look like the type well. In hind casting studies, Aucerna’s engineers have tested Val Nav’s Analog Forecasting™ on wells that do not have enough history to decline. Wells drilled over a 12-month period were forecast for up to an additional three years. When compared to actual production, the difference in recovery was less than 9%. Attend the webinar to learn how this technique, unique to Val Nav, can not only improve the quality of your forecasts, but also free up your time.
Randy Freeborn is an expert in empirical forecasting, type wells and related technology. He is a thought leader at Aucerna, inventing technology and assisting clients. A 45-year professional engineer, he is a former SPE Distinguished Lecturer and is working with SPEE’s newest Monograph on type wells. Freeborn has prepared numerous technical papers for presentation at conferences, workshops and industry meetings and has been a guest lecturer at the University of Houston and Texas A&M.
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