\begin{frame}{Oil and Gas Production: Assumptions } \textbf{Assumptions} \begin{enumerate} \item{Engineer probabilistically knows the production path of each well } \item{Marginal production choice is to drill a new well in a particular location} \item{Future production is modeled by a best fit Arps model} \item{Constant discount rate of 4.5\%} \end{enumerate} \end{frame}