Does anyone have a rough idea of how fast production rates decline from initial production levels. For example, if you have a well with initial production of 3mm cubic feet of gas per day and 100 barrels of oil, what might the production be after 1 year? 2 years? I suspect this varies a lot but wondered if there might be a useful rule of thumb…Thanks. Larry
A rough guess is that the production after one year rate will be about 35% of Initial production. Resulting in a 65% decline rate for the first year. After that decline should flatten out.
I can't even begin to answer your question except that the Newfield Company man told my husband the other day that all their wells that they have drilled in the South Cana Woodford had been "really holding up good." He said that even though they have them choked down at this time that when they get put on those compressor stations they can open them up and let them make a lot more product.
Thanks. That's very helpful and interesting. Larry
Alan D Quick said:
A rough guess is that the production after one year rate will be about 35% of Initial production. Resulting in a 65% decline rate for the first year. After that decline should flatten out.