Essential to the field of petroleum engineering, well testing is done to determine the important physical characteristics of a reservoir. In the case of a constant production rate (as opposed to a constant pressure), the well pressure drop is a function of both time and the formation's boundary conditions. This pressure drop goes through several distinct stages before reaching steady state or semi-steady state production. This paper focuses on the analysis of a circular well with a closed outer boundary and details the derivation of a new approximation, intended for the transient stage, from an existing steady state solution. This new approximation is then compared to the numerical solution as well as an existing approximate solution. The new approximation is accurate with a maximum 10% margin of error well into the semi-steady state phase with that error decreasing significantly as the distance to the closed external boundary increases. More accurate over a longer period of time than the existing line source approximation, the relevance and applications of this new approximate solution deserve further exploration.