Volumetric estimation of crude oil is necessary, so as to have an idea of the amount of recoverable hydrocarbons present in the reservoir. This method may not be accurate since it gives a rough estimate while employing some few parameters. However, while production of crude oil to the surface is ongoing, there remain a huge need to specify the volume of crude oil available in reserves to affirm its commercial viability. This paper focuses on the use of an analytic method that fits a linear least square polynomial model into the conventional material balance model for estimating oil reserves. Material balance method of reserve estimation as presented by Odeh and Havlena, was expressed linearly with the help of a least square regression model, so that, the slope can be easily determined via a computer program. More so, the efficacy of the proposed analytic model was proved by employing it in the determination of the Stock Tank Oil Originally in Place STOOIP (via a computer model) for a solution gas drive undersaturated reservoir while neglecting water influx. Results obtained through use of aforementioned method proved to be efficient and reliable.
Key words: Least square regression model, Material Balance Equation, STOOIP, Solution gas drive reservoir.
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