Effects of an increasing role for independents on petroleum resource development in the Gulf of Mexico OCS region

Journal Article · Sun Dec 31 04:00:00 EST 1995 · Energy Journal

DOI:https://doi.org/10.5547/ISSN0195-6574-EJ-Vol16-No2-3· OSTI ID:379239

Iledare, O O; Pulsipher, A G; Baumann, R H ^[1]

---

1. Louisiana State Univ., Baton Rouge, LA (United States)

Major oil and gas companies are shifting their exploration and production (E&P) investment from the United States to foreign countries. As they do so, smaller companies, {open_quotes}independents,{close_quotes} are expected to play a more prominent role in domestic E&P. Within both industry and government circles the apprehension is widespread that such a shift from the majors to the independents will cause domestic oil and gas resources to be developed less aggressively and less efficiently. This paper attempts to discern and quantify differences in firm behavior and success among firms of different sizes (majors, large and small independents) operating on the Gulf of Mexico OCS region. Contrary to conventional thinking, descriptive analysis of data on drilling effort and outcomes on the Gulf of Mexico indicates independents have been both more aggressive and successful than the majors in exploration while the majors have been only moderately more successful than independents in development drilling. 29 refs., 4 tabs.

• Sponsoring Organization: USDOE
• OSTI ID: 379239
• Journal Information: Energy Journal, Journal Name: Energy Journal Journal Issue: 2 Vol. 16; ISSN ENJODN; ISSN 0195-6574
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
ECONOMIC IMPACT
ENERGY SOURCE DEVELOPMENT
EVALUATION
GULF OF MEXICO
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY