The development of petroleum resources through cooperative rather than competitive mechanisms has assumed great importance globally. Unitization is the joint, coordinated operation of a petroleum reservoir by all the different owners of the reservoir; it is the best mechanism for assuring the...

Recent discoveries of large offshore gas fields in the eastern Mediterranean not only offer encouraging prospects for a region that has been energy dependent. However, they also raise a number of political, security, economic and geostrategic challenges both for the EU and its neighbours. This...

This paper assessed the "Impact of Oil and Gas Resource Exploration on the Environment" of Delta State oil producing communities of Nigeria. It examined the problems associated with oil exploration and its mitigation. Primary and secondary data were used to source data for the set objectives....

Unconventional oil and gas development is surging in the United States, despite the inconsistent market for oil and gas. By most estimates, if unconventional gas exploration and extraction continues at current rates, the United States could become a net exporter of natural gas by 2020. Although...

The valuation of crude oil and gas reserves is a critical step in pricing crude oil and gas producing firms. This is of interest both to academics and practitioners who are called upon to value these firms. It is also of interest to regulators, particularly in their oversight of mergers and...

When provinces raise royalties charged on oil and gas production, the result can be less, not more tax revenues. The authors show how resource-rich provinces would be better off relying more on auctions for exploration and development rights and relying less on royalties levied on output. Oil...

This paper analyzes bidding behavior in oil and gas tract auctions in Brazil, where the main winner has been Petrobras, a national company. We test predictions from the theory of common -value, first -price, sealed -bid auctions with asymmetric information. The tests indicate that Petrobras was...

This working paper, prepared by the U.S. Department of Housing and Urban Development (HUD), Office of Policy Development and Research (PD&R), Economic Market Analysis Division Gas/Oil Task Force (GOTF), examines the impact of oil and gas exploration on the affordable rental-housing market. The...

Over the next decade, more than 600 major resource projects worth approximately $650 billion are planned for Canada. First Nations communities have a unique opportunity to benefit from these developments: every oil and gas project currently proposed in western Canada implicates at least one...

This paper explains why a restraint on alienation within an oil and gas lease should be enforceable. The reasons that privately-imposed restraints on alienation are sometimes invalidated simply do not apply to a restraint within an oil and gas lease. Rather, the relationship created by an oil...