Modeling of off-shore oil lease data by probit, logit, and tobit models
- Author
- Milliken, G. A.
- Published
- United States : [publisher not identified], 1979.
Springfield, Va. : National Technical Information Service, [approximately 1979] - Physical Description
- microfiche : negative ; 11 x 15 cm
- Additional Creators
- Ash, K. A.
- Summary
- Two quantal response models, the probit and logit models, are applied to existing bidding and production data from seven off-shore lease sales. Fifteen probit models were built using individual and combined data sets. Logit models were built for three data sets for comparison purposes. The percentage of leases correctly classified by each probit and logit model for the seven data sets was computed. In order to see if the probit and logit models order the leases from most likely to least likely to produce, the probit and logit indices were classified and the proportion of leases which were producers within the classifications was determined. A limited dependent variable model, the tobit model, was also applied to bidding and production data and three models were built. These models were used to classify the leases as producers or nonproducers. If a lease was classified as a producer, the amount of oil production per year was estimated.
- Report Numbers
- LA-8107-MS
- Other Subject(s)
- 02 petroleum
- 020700 - petroleum- economics, industrial, & business aspects
- 03 natural gas
- 030600 - natural gas- economic, industrial, & business aspects
- 29 energy planning, policy and economy
- 290200 - energy planning & policy- economics & sociology
- 294002 - energy planning & policy- petroleum
- 294003 - energy planning & policy- natural gas
- Comparative evaluations
- Continental margin
- Continental shelf
- Data
- Decision making
- Geologic deposits
- Industry
- Information
- Leasing
- Mathematical models
- Natural gas deposits
- Offshore sites
- Optimization
- Petroleum deposits
- Petroleum industry
- Planning
- Production
- Resources
- Statistical models
- Collection
- NTIS collection.
- Note
- DOE contract number: W-7405-ENG-36
OSTI Identifier 5897907
Research organization: Los Alamos National Lab. (LANL), Los Alamos, NM (United States).
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