The Hubbert Curve is a model for predicting the likely production rate of any finite resource over time. The rate of production of individual wells grows exponentially from discovery until a peak is reached, at which point production steadily, and sometimes swiftly, declines, in the result resembles a symmetrical bell-shaped curve. It first appeared in Nuclear Energy and the Fossil Fuels, geologist M. King Hubbert’s 1956 presentation to the API during his tenure at the Shell Oil Company.
Related Definitions in the Project: The Upstream Engineering
