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The Rate of Return Earned by Lessees under Cash Bonus Bidding for OCS Oil and Gas Leases

Abstract:
The remaining oil and gas reserves and resources of the Outer Continental Shelf (OCS) represent one of America's largest publicly owned assets. Through 1980, OCS oil and gas leases had produced $62.8 billion in gross revenue and $41.3 billion in bonus, royalty, and rental payments to the federal government (U.S. Geological Survey, 1981).

Purchase ( $25 )

Energy Specializations: Petroleum – Exploration and Production; Petroleum – Policy and Regulation

JEL Codes:
D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Oil and gas leases, Outer continental shelf, US, Bonus bidding, Lessee rate of return

DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No4-3


Published in Volume 4, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.