42 comments on The limit of the statistic R/P in models of oil discovery and production
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42 comments on The limit of the statistic R/P in models of oil discovery and production
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Interesting that applying the shock model to a Kroneker delta function for a single discovery would add a fixed width production so the scaling on width does not really jive with that model.
In some sense R/P=constant is a pure Markovian rate formulation. The amount of extraction is always proportional to the amount of perceived reserve available. And the reason it starts out high and then damps is because of the transient lags for the shock model phases (decision, plan, build) before the production hits that long-term steady state.
I hazard a guess that this will play out a bit differently using the HSM (Hybrid Shock Model) because the extraction rate builds up with cumulative discovery in HSM. It would be interesting to make the comparison.
Otherwise good use of pragmathematics. Using L'Hopital's rule is indeed clever.
Yes, the scaling on width wouldn't work for a delta function but it could work on a pulse function approximating a delta. The scaling is more about the time delay between discovery and production. It sounds like the Shock model models that time delay in a more elaborate way and is probably more accurate.
The delay and width scaling comes about from convolutions in the shock model. Even taking the Lorentzian example and the Gaussian examples, you get summed (not multiplied) scalings if convolution is at the root. Two infinite Gaussians convoluted together give a new width that is sqrt(w12+w22) and two infinite Lorentzians convoluted together goes as w1+w2. That's at least what I think is at the root of the scalings.