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Both Harmonic and Hyperbolic declines are empirical while Exponential decline has a physical meaning.
Exponential Production Decline has a physical meaning of declining production from finite drainage volume
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There are few approaches to match the Arps decline to the historical data which are covered in DCA Arps Matching @model.
The DCA Arps do not cover all types of production decline, but their application is quite broad and mathematics is quite simple which gained popularity as quick estimation of production perspectives.
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[ Exponential Production Decline ][ Hyperbolic Production Decline ][ Harmonic Production Decline ][ Production Decrement ]
References
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