This paper uses a structural econometric model to analyze the investment timing game in offshore petroleum production that ensues on wildcat tracts in U.S. federal lands off the Gulf of Mexico. When individual petroleum-producing firms make their exploration and development investment timing...

In order to maximize profits, petroleum-producing firms make decisions that are dynamic and strategic in nature, and that take into account constraints imposed by the regulatory and institutional environment. This paper describes our research modeling, estimating and analyzing the efficiency of...

In order to maximize profits, petroleum-producing firms make decisions that are dynamic and strategic in nature, and that take into account constraints imposed by the regulatory and institutional environment. This paper describes our research modeling, estimating and analyzing the efficiency of...