Barrel Production

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Equation / Last modified by Administrator on 2018/03/18 07:08
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vCalc.Barrel Production
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The Barrel Production calculator compute the total volume of production over a period of time based on the production rate and the duration of production.

INSTRUCTIONS: Choose units and enter the following:

  • (uP) This is the unit amount of production (e.g. 5,600 barrels)
  • (uD) This is the unit production period associated with the above amount (e.g. 1 day)
  • (PP) This is the production period

Total Barrel Production (TBP):  The calculator returns the total volume in barrels (bbl).  However, this can be automatically converted to compatible units via the pull-down menu.

The Math / Science

The formula for Barrel Production is:

         TBP = (uP / uD) • PP

where:

  • TBP is the total barrels produced.
  • uP is the unit production volume
  • uD is the time required to produce the unit production volume
  • PP is the production period.
Example

An oil well is inspected every two weeks, and the average production every two weeks is 850 barrels of oil.  How much oil will this well produce in two years at the current rate? 

In this example,

  • the unit production volume (uP) is 850 barrels,
  • the unit production period (uD) is 2 weeks, and
  • the production period (PP) is 2 years.

The calculator returns 44,350.875 bbl.