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RESEARCH PAPERS

A Statistical Analysis of Rod Pump Maintenance

[+] Author and Article Information
R. E. Rollings

Humble Oil and Refining Company, Corpus Christi, Texas

P. A. Jensen, G. R. Wagner

Department of Mechanical Engineering, The University of Texas, Austin, Texas

J. Eng. Ind 92(4), 841-847 (Nov 01, 1970) (7 pages) doi:10.1115/1.3427854 History: Received June 15, 1970; Online July 15, 2010

Abstract

This paper explains the development of a decision tool to assist in determining if investments should be made to replace rod pumps which have failed in marginal oil wells. The paper is concerned with satistically forecasting the economic parameters of payout, rate of return, and total oil and equivalent gas produced between failures, using regression analysis and Monte Carlo simulation.

Copyright © 1970 by ASME
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