IDEAS home Printed from https://ideas.repec.org/a/ecj/econjl/v100y1990i401p367-90.html
   My bibliography  Save this article

An Econometric Analysis of Exploration and Extraction of Oil in the U.K. Continental Shelf

Author

Listed:
  • Pesaran, M Hashem

Abstract

This paper develops an econometric model for the analysis of exploration and production policies of "price-taking" suppliers, and derives theoretically consistent exploration and output equations for oil which explicitly take account of the oil discovery process and the intertemporal nature of exploration and production decision. The model is then applied to an empirical analysis of oil exploration and extraction on the United Kingdom Continental Shelf (UKCS) over the period 1978(1)-1986(4). The analysis explicitly takes account of the available engineering information concerning the pressure dynamics of the petroleum reserves and the geological knowledge pertinent to the discovery process, and presents formal statistical tests of the significance of these factors for the explanation of output and exploration in the North Sea. Copyright 1990 by Royal Economic Society.

Suggested Citation

  • Pesaran, M Hashem, 1990. "An Econometric Analysis of Exploration and Extraction of Oil in the U.K. Continental Shelf," Economic Journal, Royal Economic Society, vol. 100(401), pages 367-390, June.
    • Handle: RePEc:ecj:econjl:v:100:y:1990:i:401:p:367-90
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0013-0133%28199006%29100%3A401%3C367%3AAEAOEA%3E2.0.CO%3B2-C&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecj:econjl:v:100:y:1990:i:401:p:367-90. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: https://edirc.repec.org/data/resssea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.