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In physics, a mass balance, also called a material balance, is an application of conservation of mass [1] to the analysis of physical systems. By accounting for material entering and leaving a system, mass flows can be identified which might have been unknown, or difficult to measure without this technique.
The materials balance method for an oil or gas field uses an equation that relates the volume of oil, water and gas that has been produced from a reservoir and the change in reservoir pressure to calculate the remaining oil & gas. It assumes that, as fluids from the reservoir are produced, there will be a change in the reservoir pressure that ...
Material balancing involves taking a survey of the available inputs and raw materials in an economy and then using a balance sheet to balance the inputs with output targets specified by industry to achieve a balance between supply and demand. This balance is used to formulate a plan for resource allocation and investment in a national economy ...
After production has begun, the change in reservoir pressure over time and the history of production from that reservoir can be used to estimate the total oil-in-place using the materials balance method. Alternatively, the production history can be fitted to a curve to estimate future oil production (decline curve method). [2] The analogous ...
For oil and gas well allocation, Newfoundland and Labrador and Nova Scotia Offshore Areas, Drilling and Production Regulations, [43] for example, requires accuracy within ±5%. In general, the total uncertainty of the allocation system is related to measurement uncertainty of each measured input. Investments in improved metering systems and ...
Corporate material flow analysis, or MFA along an industrial supply chain involves a number of companies: The goal of material flow analysis within a company is to quantify and then optimize the production processes so that materials and energy are used more efficiently manner, e.g., by recycling and waste reduction.
The standard Hubbert curve.For applications, the x and y scales are replaced by time and production scales. U.S. Oil Production and Imports 1910 to 2012. In 1956, Hubbert proposed that fossil fuel production in a given region over time would follow a roughly bell-shaped curve without giving a precise formula; he later used the Hubbert curve, the derivative of the logistic curve, [6] [7] for ...
A simplistic interpretation of the ratio has led to many false predictions of imminent "running out of oil" since the early years of the oil industry in the 1800s. This has been especially true in the United States, where the ratio of proved reserves-to-production has been between 8 years and 17 years since 1920.