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Rob Porter, Northwestern U. Print
Tuesday, 18 November 2008, 14:00 - 15:30

The Effects of Technological Improvements on Offshore Oil and Gas Bidding Exploration and Development

Abstract:  Since the inception of the federal offshore leasing program in 1954, there have been dramatic improvements in seismic analysis of potential deposits, largely associated with advances in computing. Seismic analysis consists of selecting the mathematical model of the underground structure (within a class of models) that is most consistent with the data. Advances in computing have radically changed what is possible, and in the 1990s there was a widespread movement from two dimensional (2D) to three dimensional (3D) models. We seek to measure the productivity advances from adoption of 3D technology, as well as identifying who has benefited from these advances. The industry acquires leases on federal lands via an auction, and the measurement issue is who has captured the rents from adoption of the improved technology.

Rob Porter, Northwestern University

Location: S 12.227
Contact: Claude Adan, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it