Application and Discussion of Reserve-production Balance Coefficient in Oilfield

Abstract

The reserve-production balance coefficient is the ratio of the annual increase in recoverable reserves to the annual oil production, also known as production reserve replacement ratio. What is the relationship between the index and the stable production of oilfield? How to use the index to predict the stable production ability of oilfield? When the annual increase in recoverable reserves is greater than the annual oil production, it can only mean that the resource base is further strengthened, but whether the annual oil production in the following year can be kept stable or increased, it also depends on the ability of new recoverable reserves to be converted into annual oil production and the magnitude of the decline rate of the previous year’s annual oil production. Based on the analysis of the critical value of stable production of the reserve-production Balance Coefficient, this paper discusses how to apply the reserve-production Balance Coefficient in oilfield development, and when the reserve-production Balance Coefficient reaches what critical value, the annual oil production of an oil field can be stabilized or increased in the next year.