The result of the volumetric analysis carried out on Akpet gas field gave an estimated ultimate recoverable gas reserves as 30 MMMscf. The economic limit was estimated as 20 MMscf/month and a nominal...

The result of the volumetric analysis carried out on Akpet gas field gave an estimated ultimate recoverable gas reserves as 30 MMMscf. The economic limit was estimated as 20 MMscf/month and a nominal decline rate of 0.03 per month. The allowable or restricted production rate given by the department of petroleum resources is 400 MMscf/month. Calculate the life of the well, the prorated (restricted) time and the yearly production performance of the well. Assume exponential decline.