Reservoir models are run more frequently, and the day could be approaching when they are continuously updated with real-time production well data. One thing everyone agrees on is that the industry is not there yet. There is debate about whether it actually will get there or getting all the way there will be useful enough to justify the effort. The prospect appears relatively close to fulfillment, and even getting close has value for the industry.Industry consultant Bill Bartling recalls reservoir characterization as practiced in the 1980s and 1990s. "It was...

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