Simulating the effect of economic and policy incentives on natural gas drilling and gross reserve additions

Article Abstract:

The determinants of new natural gas reserves in a developed US petroleum basin are studied. This is due to the slow growth in the price of natural gas and its uncertain future supply despite abundant resources which could discourage investors. A supply model of natural gas reserve additions is developed which takes into account wellhead prices, severance taxes and geologic conditions. Data from 18,000 new wells drilled in West Virginia from 1977-1987 were used in constructing the model.

Usage, Simulation methods, Simulation, Gas research, Gaseous fuels research, Natural gas reserves

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The role of the oil and gas industry in Utah's economy: an economic base/input-output analysis

Article Abstract:

The Utah multiregional input-output (UMRIO) model was developed to analyze the oil and gas industries' impact on the state's economic growth. Results generated by UMRIO reveal that several regions in state such as the Uintah Basin and the Wasatch Front depend heavily on oil and gas activity. The economic growth of these regions spills over to more urban dominating regions, both inside and outside of Utah.

Research, Economic development, Utah, Input-output analysis

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The Hotelling Principle, backwardation of futures prices and the values of developed petroleum reserves - the production constraint hypothesis

Article Abstract:

H. Hotelling wrote about the economics of exhaustible resources, i.e., the price of a non-renewable resource less the marginal cost of producting should increase over time at the rate of return on comparable assets- hereafter called the rate of interest. The author attempts to show the hypotheses is valid only where the net present value for current development and that for delayed development are equal.

United States, Crude Petroleum, Statistical Data Included, Natural resources, Petroleum

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