METHOD FOR ESTIMATING CRUDE OIL PRODUCTION

In a method for estimating crude oil production, a geographic (or market) region is first identified and selected, and a value of natural gas pipeline activity for the region is determined. That value of natural gas pipeline activity for the region is then calibrated against historical crude oil pro...

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Bibliographische Detailangaben
Hauptverfasser:	SPALENKA JOSEF W, COLLUM, JR. RANDALL L, ALPHENAAR DEIRDRE, SUNDHEIMER BRENT
Format:	Patent
Sprache:	eng
Schlagworte:	CALCULATING COMPUTING COUNTING DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES PHYSICS SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:	In a method for estimating crude oil production, a geographic (or market) region is first identified and selected, and a value of natural gas pipeline activity for the region is determined. That value of natural gas pipeline activity for the region is then calibrated against historical crude oil production data for the region to establish a model for estimating the crude oil production for the region. Subsequently, as natural gas production data for a particular time period is received, it is input into the model to estimate crude oil production in the region, and that estimated crude oil production for the region and for the particular time period is reported to third-party market participants.