Vinomarky comments are on target. In my experience I have never been involved in a WAG process and to be honest we simply never worried about the effect as the fields were small, late in their production cycle. There was no way in this world that the necessary data would be made available or was even possible to obtain by the contracting company. If the company is say SHELL, ARAMCO you can bet they will get the necessary data.
I was looking for a good picture of this hysteresis process and found this related to SOIL science :-) But it is clear so worth looking at
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Here is something related to WAG processes
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These guys have the ECLIPSE data files here
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And here is something that may answer vinomarky question from a place I would least expect to find it, MIT. And they did have lab data to match against.
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The results of the simulations presented here indicate
that WAG simulation is quite sensitive to the treatment
of relative permeability hysteresis. Depending on the
hysteretic model used, predictions of oil recovery may
be as much as 15% higher than without hysteresis
(Table 2). Among the different models typically available
in reservoir simulators, the largest improvements
in recovery predictions are obtained with the three-phase
WAG hysteresis model in combination with the
Stone I interpolation method. This choice is precisely
the one that agrees with experimental data best.
Again, cost , saturation history are issues that make it all very difficult to do as vinomarky has said. Issues that in the Real World you will need to get around by SIMPLIFYING the problem.
It does not mean you should ignore them, but you should keep them in mind relative to WHERE you are working. SHELL Oil, OK mention that you need it, XYZ Oil Company, forget it, they won't spend the money as they are probable just interested in knowing where to drill and move on to the next project (or they give you 2 weeks to do the work and then need the results). 
How to get out of the Jail 
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