Spreadsheets simplify oil field unitization calculations

Journal Article · Mon Aug 28 04:00:00 EDT 1995 · Oil and Gas Journal

OSTI ID:99287

Cline, S B ^[1]

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1. Hefner Corp., Oklahoma City, OK (United States)

Linear programming, now available with most spreadsheet programs, allows companies involved in unitizing oil producing properties to determine their minimum and maximum interest. With spreadsheets, even the smallest companies can do linear programming or optimization techniques without having to know much about the process involved. If each company can easily determine its and the competition`s optimum parameter weight, then reasonable compromise and unitization are more likely. When suspicion and lack of knowledge prevail, parties are less likely to cooperate and form production units. Unit participation formulas vary greatly, even if units have similar reservoir characteristics. This paper reviews an example of linear programming to determine the interests of four different oil companies operating in the same production zones.

• OSTI ID: 99287
• Journal Information: Oil and Gas Journal, Journal Name: Oil and Gas Journal Journal Issue: 35 Vol. 93; ISSN 0030-1388; ISSN OIGJAV
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
CALCULATION METHODS
COMPUTER CODES
JOINT VENTURES
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PLANNING
RESOURCE ASSESSMENT
RISK ASSESSMENT