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An Analysis of Fiscal and Financial Impediments to Oil and Gas Exploration in Developing Countries

Charles R. Blitzer, Panos E. Cavoulacos, Donald R. Lessard, and James L. Paddock

Year: 1985
Volume: Volume 6
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-NoSI-6
No Abstract



North American Natural Gas Markets: Summary of an Energy Modeling Forum Study

Hillard G. Huntington and Glen E. Schuler, Jr.

Year: 1990
Volume: Volume 11
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No2-1
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Abstract:
This paper summarizes the research by the Ninth Energy Modeling Forum (EMF) working group which focused on the evolution of the North American natural gas market through 2010.1 The group analyzed four standardized scenarios: upper and lower oil price paths, the low U.S. natural gas resource base, and high U.S. natural gas demand. The group sought to develop insights about the gas market's development under these scenarios by using economic models and additional analyses. Some of the most critical factors highlighted in the study, that will affect the usage and price of gas in the future, are the nature of the gas-oil substitution in the industrial and utility boiler market, which will depend on relative bumertip residual fuel oil to gas prices, the incremental costs of finding and producing additional gas supplies in the U.S. and Canada, and the amount of potential gas imports.



Toward an Optimal Oil and Gas Leasing System

Walter J. Mead

Year: 1994
Volume: Volume15
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No4-1
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Abstract:
The four principal leasing systems-work program, royalty, profit share (including rent resource tax), and bonus bidding are reviewed relative to their efficiency in maximizing and collecting the present value of economic rents. Empirical research is shown to support theoretical conclusions that the most efficient system appears to be bonus bidding, without a fixed royalty, with leases issued in perpetuity, with environmental and other regulations required to pass a benefit/cost test, and with elimination of any nationalistic or other barriers to entry.



Modelling the Growth in Gas Reseves From Known Fields

Kevin F. Forbes and Ernest M. Zampelli

Year: 2009
Volume: Volume 30
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol30-NoSI-13
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Abstract:
The extent to which future United States demand for natural gas is satisfied by imports of LNG is contingent on the adequacy and cost competitiveness of North American supplies. One of the cheaper and more important sources of natural gas supply is accounted for by reserve appreciation, i.e., reserve growth, in known fields. Based on an extensively applied methodology developed by Arrington (1960), the increase in proved ultimate recovery is presumed to increase at a diminishing rate with the age of the field. In this paper, a single equation model of natural gas reserve growth in the Gulf of Mexico is developed and estimated. The results strongly suggest that the annual growth rate in the reserves of a field is significantly affected by initial discovery size, price, water depth, and unobserved field-specific effects. Hence, estimating oil and gas reserve growth using an Arrington based approach may underestimate the response of reserve growth to changes in economic fundamentals.





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