Decline Curve Analysis
Decline Curve Analysis (DCA) is a reservoir engineering technique used to forecast the future production rates of oil and gas wells by analyzing historical production data. It involves fitting mathematical models, such as exponential, hyperbolic, or harmonic decline curves, to observed production decline trends to estimate ultimate recovery and remaining reserves. This method is widely applied in the petroleum industry for economic evaluations, reserve estimations, and production planning.
Developers should learn DCA when working in the oil and gas sector, particularly in roles involving reservoir simulation, production optimization, or data analytics for energy companies. It is essential for predicting well performance, assessing asset value, and making informed decisions on field development and investment strategies, such as in reservoir management software or production forecasting tools.