1. n. [Reservoir Characterization]
A computer run of a reservoir model over time to examine the flow of fluid within the reservoir and from the reservoir. Reservoir simulators are built on reservoir models that include the petrophysical characteristics required to understand the behavior of the fluids over time. Usually, the simulator is calibrated using historic pressure and production data in a process referred to as "history matching." Once the simulator has been successfully calibrated, it is used to predict future reservoir production under a series of potential scenarios, such as drilling new wells, injecting various fluids or stimulation.