International Journal of Earth Sciences and Engineering

Qiming Li ¹, Xiaoguang Yang ¹

Affiliations
1 School of Business Administration, China University of Petroleum, Beijing, CN

Abstract

Recently, the success of exploitation of unconventional gas has significantly changed the global energy supply. Different from the conventional gas, it is difficult to estimate the single-well production of an unconventional gas field due to the rapid decline of production curve and new wells installed consecutively. The unconventional gas industry is a highly technology-intensive industry and depends on the rapid technological progress. In this paper, we propose to investigate the influence of technological progress on the exploitation of unconventional gas from the perspective of the development cycle of a gas field and establish the production estimation model of unconventional gas under technological progress. The model finds that technological progress could increase total production and extend exploitation cycle by increasing the production rate and recovery ratio of an unconventional gas field. Based on the field's proven reserves and decline discipline of the single-well production, the model could calculate annual production and drilling scheme quickly. Therefore, the model is not only beneficial to the quick decision of investors' economic valuation but also the sustainable exploitation of the unconventional gas field.

Keywords

Unconventional Gas, Technological Progress, Field's Production, Drilling Demand, Economic Efficiency, Sustainable Exploitation.

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