July 22, 2022
Petroleum and natural gas remain the most-consumed sources of energy in the United States through 2050, this energy demand requires to be replenished since oil rates decline with time due to the natural loss of reservoir pressure.
The most common form of visualization to understand oil and gas production is a rate vs. time plot. It is common to average the rates of hundreds of wells to evaluate the performance of a single or group of wells against a benchmark in a particular.