| O&G |
legacy wells (How should the legacy decline rates be interpreted? The legacy production change is the change in total regional production from one month to the next, excluding production coming from newly drilled wells. Production from a well typically declines over time, as pressure from the formation around the wellbore is depleted. In the absence of new wells being drilled, the group of all existing wells in a region will decline in production from one month to the next. As such, the DPR separates the wells in a region into groups of newly drilled wells and existing, or legacy, wells, measuring the production levels separately. Each month, the group of newly drilled wells from the prior month is moved into the group of legacy wells, and a new group of newly drilled wells is measured. It is important to note that as the number of wells moving into the legacy group increases, the legacy production change tends to become more negative; i.e., greater total production declines from month to month.  eia.gov CCK); existing wells (Jenny1801); group of existing wells (Jenny1801) |
