In the prediction of production data, the exponential decline curve analysis is very effective. The equation takes the following form: =−q=qie−Dit Where q is the current production rate (BBL/day), qi is the initial production rate (BBL/day), d is the decline rate, and t is the time (days). Take the natural logarithm of both sides of this equation and type the straight line equation you obtain into the cell below. Also type in the parameter that represents the dependent (or response) variable, the independent (or exploratory) variable, the slope and intercept in this straight-line equation. Import rate and time data stored in wellA. csv and display the dataframe.
Make a scatter plot of the rate versus time
Using the idea from problem 1, transform this data such that it plots roughly as data points following a straight line.
Hint: This will require plotting the natural logarithm instead of the actual value on the x or y axis.