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There are few approaches to match the Arps decline to the historical data:
- Unconstrained matching
- Constrained matching
- Match the value of the initial rate
- Match the value of the current rate
- Match the value of the current cumulative
- Match the value of the current rate and cumulative
To ensure the smooth transition from historical data
| LaTeX Math Inline |
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| body | [(t_1,q_1)... (t_N, q_N)] |
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to the production forecasts in future time moments
| LaTeX Math Inline |
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| body | --uriencoded--[(t_%7BN+1%7D,q_%7BN+1%7D), ...] |
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one may wish to constrain the model by firm matching the production at the last historical moment
which leads to the following form of
Arp's model:
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