A method to determine optimum well spacing

Abstract

The selection of the well spacing for the development of an oil accumulation'requires both a reservoir and an economic analysis. This paper is concerned -with the economic aspects of selecting the optimum veil spacing for an oil field. Currently, the economics of the study are conducted by trial and error calculations. This paper introduces a new and more straightforward method of determining the optimum. A relationship for the present worth of an oil field is expressed as a function of the well spacing. The derivative of this function is used to find the point of maximum present worth, which is designated as the optimum spacing. The equations solved graphically, and the technique is quick and easy to apply. Solution procedures are presented for single and multiple completion programs, and example problems are worked for each case.