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Bidding optimum bonus for federal offshore oil and gas leases

Journal Article · · J. Pet. Technol.; (United States)
DOI:https://doi.org/10.2118/15992-PA· OSTI ID:5967878
How a bidder should bid for federal offshore oil and gas leases offered by bonus bidding is detailed. Quantitative answers are given for bidders seeking to maximize value as well as reserves. The winner's curse is delineated. Further, it is shown how bidding as a joint venture rather than solo can diminish bidders' values.
OSTI ID:
5967878
Journal Information:
J. Pet. Technol.; (United States), Journal Name: J. Pet. Technol.; (United States) Vol. 39:9; ISSN JPTJA
Country of Publication:
United States
Language:
English

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Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
BIDS
COMPETITION
FINANCIAL INCENTIVES
GEOLOGIC DEPOSITS
INDUSTRY
LEASES
LEASING
MINERAL RESOURCES
NATURAL GAS DEPOSITS
NATURAL GAS INDUSTRY
OFFSHORE SITES
OPTIMIZATION
PETROLEUM DEPOSITS
PETROLEUM INDUSTRY
PROPERTY VALUES
RESOURCES