Injection of water to enhance oil production is commonplace, and improvements in understanding the process are economically important. This study examines predictive models of the injection-to-production ratio. First...Injection of water to enhance oil production is commonplace, and improvements in understanding the process are economically important. This study examines predictive models of the injection-to-production ratio. Firstly, the error between the fitting and actual injection-production ratio is calculated with such methods as the injection-production ratio and water-oil ratio method, the material balance method, the multiple regression method, the gray theory GM (1,1) model and the back-propogation (BP) neural network method by computer applications in this paper. The relative average errors calculated are respectively 1.67%, 1.08%, 19.2%, 1.38% and 0.88%. Secondly, the reasons for the errors from different prediction methods are analyzed theoretically, indicating that the prediction precision of the BP neural network method is high, and that it has a better self-adaptability, so that it can reflect the internal relationship between the injection-production ratio and the influencing factors. Therefore, the BP neural network method is suitable to the prediction of injection-production ratio.展开更多
Reliable forecasts of the price of oil are of interest for a wide range of applications. For example, central banks and private sector forecasters view the price of oil as one of the key variables in generating macroe...Reliable forecasts of the price of oil are of interest for a wide range of applications. For example, central banks and private sector forecasters view the price of oil as one of the key variables in generating macroeconomic projections and in assessing macroeconomic risks. Of particular interest is the question of the extent to which the price of oil is helpful in predicting recessions. This paper presents a statistical learning method (SLM) based on combined fuzzy system (FS), artificial neural network (ANN), and support vector regression (SVR) to cope with optimum long-term oil price forecasting in noisy, uncertain, and complex environments. A number of quantitative factors were discovered from this model and used as the input. For verification and testing, the West Texas Intermediate (WT1) crude oil spot price is used to test the effectiveness of the proposed learning methodology. Empirical results reveal that the proposed SLM-based forecasting can model the nonlinear relationship between the input variables and price very well. Furthermore, in-sample and out-of-sample prediction performance also demonstrates that the proposed SLM model can produce more accurate prediction results than other nonlinear models.展开更多
The difficulty in crude oil price forecasting, due to inherent complexity, has attracted much attention of academic researchers and business practitioners. Various methods have been tried to solve the problem of forec...The difficulty in crude oil price forecasting, due to inherent complexity, has attracted much attention of academic researchers and business practitioners. Various methods have been tried to solve the problem of forecasting crude oil prices. However, all of the existing models of prediction can not meet practical needs. Very recently, Wang and Yu proposed a new methodology for handling complex systems-TEI@I methodology by means of a systematic integration of text mining, econometrics and intelligent techniques.Within the framework of TEI@I methodology, econometrical models are used to model the linear components of crude oil price time series (i.e., main trends) while nonlinear components of crude oil price time series (i.e., error terms) are modelled by using artificial neural network (ANN) models. In addition, the impact of irregular and infrequent future events on crude oil price is explored using web-based text mining (WTM) and rule-based expert systems (RES) techniques. Thus, a fully novel nonlinear integrated forecasting approach with error correction and judgmental adjustment is formulated to improve prediction performance within the framework of the TEI@I methodology. The proposed methodology and the novel forecasting approach are illustrated via an example.展开更多
We study a class of preconditioners to solve large-scale linear systems arising from fully implicit reservoir simulation. These methods are discussed in the framework of the auxiliary space preconditioning method for ...We study a class of preconditioners to solve large-scale linear systems arising from fully implicit reservoir simulation. These methods are discussed in the framework of the auxiliary space preconditioning method for generality. Unlike in the case of classical algebraic preconditioning methods, we take several analytical and physical considerations into account. In addition, we choose appropriate auxiliary problems to design the robust solvers herein. More importantly, our methods are user-friendly and general enough to be easily ported to existing petroleum reservoir simulators. We test the efficiency and robustness of the proposed method by applying them to a couple of benchmark problems and real-world reservoir problems. The numerical results show that our methods are both efficient and robust for large reservoir models.展开更多
文摘Injection of water to enhance oil production is commonplace, and improvements in understanding the process are economically important. This study examines predictive models of the injection-to-production ratio. Firstly, the error between the fitting and actual injection-production ratio is calculated with such methods as the injection-production ratio and water-oil ratio method, the material balance method, the multiple regression method, the gray theory GM (1,1) model and the back-propogation (BP) neural network method by computer applications in this paper. The relative average errors calculated are respectively 1.67%, 1.08%, 19.2%, 1.38% and 0.88%. Secondly, the reasons for the errors from different prediction methods are analyzed theoretically, indicating that the prediction precision of the BP neural network method is high, and that it has a better self-adaptability, so that it can reflect the internal relationship between the injection-production ratio and the influencing factors. Therefore, the BP neural network method is suitable to the prediction of injection-production ratio.
文摘Reliable forecasts of the price of oil are of interest for a wide range of applications. For example, central banks and private sector forecasters view the price of oil as one of the key variables in generating macroeconomic projections and in assessing macroeconomic risks. Of particular interest is the question of the extent to which the price of oil is helpful in predicting recessions. This paper presents a statistical learning method (SLM) based on combined fuzzy system (FS), artificial neural network (ANN), and support vector regression (SVR) to cope with optimum long-term oil price forecasting in noisy, uncertain, and complex environments. A number of quantitative factors were discovered from this model and used as the input. For verification and testing, the West Texas Intermediate (WT1) crude oil spot price is used to test the effectiveness of the proposed learning methodology. Empirical results reveal that the proposed SLM-based forecasting can model the nonlinear relationship between the input variables and price very well. Furthermore, in-sample and out-of-sample prediction performance also demonstrates that the proposed SLM model can produce more accurate prediction results than other nonlinear models.
基金This research is partially supported by NSFC, CAS, RGC of Hong Kong and Ministry of Education and Technology of Japan
文摘The difficulty in crude oil price forecasting, due to inherent complexity, has attracted much attention of academic researchers and business practitioners. Various methods have been tried to solve the problem of forecasting crude oil prices. However, all of the existing models of prediction can not meet practical needs. Very recently, Wang and Yu proposed a new methodology for handling complex systems-TEI@I methodology by means of a systematic integration of text mining, econometrics and intelligent techniques.Within the framework of TEI@I methodology, econometrical models are used to model the linear components of crude oil price time series (i.e., main trends) while nonlinear components of crude oil price time series (i.e., error terms) are modelled by using artificial neural network (ANN) models. In addition, the impact of irregular and infrequent future events on crude oil price is explored using web-based text mining (WTM) and rule-based expert systems (RES) techniques. Thus, a fully novel nonlinear integrated forecasting approach with error correction and judgmental adjustment is formulated to improve prediction performance within the framework of the TEI@I methodology. The proposed methodology and the novel forecasting approach are illustrated via an example.
基金supported by Petro-China Joint Research Funding(Grant No.12HT1050002654)National Science Foundation of USA(Grant No.DMS-1217142)+1 种基金the Dean’s Startup FundAcademy of Mathematics and System Sciences and the State High Tech Development Plan of China(863 Program)(GrantNo.2012AA01A309)
文摘We study a class of preconditioners to solve large-scale linear systems arising from fully implicit reservoir simulation. These methods are discussed in the framework of the auxiliary space preconditioning method for generality. Unlike in the case of classical algebraic preconditioning methods, we take several analytical and physical considerations into account. In addition, we choose appropriate auxiliary problems to design the robust solvers herein. More importantly, our methods are user-friendly and general enough to be easily ported to existing petroleum reservoir simulators. We test the efficiency and robustness of the proposed method by applying them to a couple of benchmark problems and real-world reservoir problems. The numerical results show that our methods are both efficient and robust for large reservoir models.