I would like to have a summary (simple if possible without too many equations :-)) explaining how the constraints are managed by Future. For instance let's say I reach the maximum liquid rate, which wells will be choked back, what are the priority criteria and how is defined the level of decrease for the rates, how is defined the frequency to re-change the rates, etc...
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A quick answer is as follows
FUTURE solves simultaneously for all the constraints and finds the combination of well flow rates that maximise the overall value of production (value per unit of oil, per unit of gas, per unit of water etc as defined in Reservoir properties, together with any applicable individual well value multipliers).
With a liquid constraint, this usually selects for shut-in the wells with the highest water-cut.
Any selected wells are normally fully closed. They are available for flow again at the next calculation step, unless the well concerned has a minimum shut-in period specified.