Modeling the number of bids received on federal offshore hydrocarbon leases by poisson-type models

Technical Report · Thu May 01 00:00:00 EDT 1980

DOI:https://doi.org/10.2172/5432422· OSTI ID:5432422

Nachtsheim, C J; Bruckner, L A

Since 1954, the federal government has held over 40 hydrocarbon lease sales on the Outer Continental Shelf. A maximum of 18 sealed bonus bids was received for each of the tracts offered. A mixed Poisson-type model has been suggested for the relative frequencies of the number of bids received by an offered tract. Here we show that statistically this model may only be supportable for the number of solo bids received in sales after the Joint-Bidding Ban of 1975. A truncated model (excluding tracts receiving no bids) is proposed. While an improvement results from the use of this model, it appears that models of the mixed Poisson-type may not be generally applicable to the number of bids data.

• Research Organization: Los Alamos National Lab. (LANL), Los Alamos, NM (United States)
• DOE Contract Number: W-7405-ENG-36
• OSTI ID: 5432422
• Report Number(s): LA-8347-MS
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
03 NATURAL GAS
BIDS
STATISTICAL MODELS
LEASING
NATURAL GAS DEPOSITS
PETROLEUM DEPOSITS
CONTINENTAL SHELF
LEASES
OFFSHORE SITES
POISSON EQUATION
PROBABILITY
STATISTICS
TABLES
THEORETICAL DATA
CONTINENTAL MARGIN
DATA
DATA FORMS
DIFFERENTIAL EQUATIONS
EQUATIONS
GEOLOGIC DEPOSITS
INFORMATION
MATHEMATICAL MODELS
MATHEMATICS
NUMERICAL DATA
RESOURCES
020700* - Petroleum- Economics
Industrial
& Business Aspects
030600 - Natural Gas- Economic
Industrial
& Business Aspects