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The simplest way to model the watercut is the Water Fractional Flow:

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{\rm Y_{wm}} = \frac{1}{1 + \frac{K_{ro}}{K_{rw}} \cdot \frac{ \mu_w}{\mu_o}  \cdot \frac{B_w}{B_o} }

which provides a good estimate when the drawdown is much higher than delta pressure from gravity and capillary effects.

Model 

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 requires accurate input on reservoir saturation.

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The model 

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 can also be used in field production analysis and in this case the average reservoir saturation can be assumed homogeneousIn case the reservoir saturation is not known one can assume a homogeneous reservoir saturation model

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s_w(t) = s_{wi} + (1-s_{wi}-s_{or}) \cdot \rm RF(t)

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