of the amount
of oil produced by a newly opened oil well, measured in B/D (barrels of oil per day) or BOE/D (barrels of oil equivalent per day). Because oil production
always follows a bell curve
, the initial production will be relatively small compared to the peak
production level at the middle of the curve. This is used to estimate
total production, the peak oil
production level and subsequent decline rate
. Also called initial production rate.