RAPID REGION WIDE PRODUCTION FORECASTING
Abstract:
A method for rapid region wide production forecasting includes identifying base data of a well in a plurality of wells of a region; selecting, using the base data and from a set of a models comprising a rich machine learning model, a location based machine learning model, and a decline curve model, a well model; and generating, based on the selecting, a forecasted production of the well using the base data and the well model. The method further includes aggregating a plurality of forecasted productions of the plurality of wells, the plurality of forecasted productions including the forecasted production, to generate a region forecast using the rich machine learning model, the location based machine learning model, and the decline curve model; and presenting the region forecast.
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