Estimating finding rates for U.S. crude oil

Daniel S. Christiansen and David B. Reister

Energy, 1989, vol. 14, issue 12, 931-942

Abstract: In this paper, we provide estimates of both exploratory and developmental finding-rate equations for crude oil for six onshore regions in the lower 48 United States. We estimate the finding rate in two different ways — one based on the relationship between the finding rate and cumulative reserve additions (a derivative approach) and one based on the relationship between cumulative reserve additions and cumulative drilling (an integral approach). We develop the integral approach according to two different methods. We investigate differences in finding rates between approaches and between regions.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:14:y:1989:i:12:p:931-942

DOI: 10.1016/0360-5442(89)90048-0

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