dc.contributor.author | Storrøsten, Halvor Briseid | |
dc.date.accessioned | 2024-04-15T09:01:26Z | |
dc.date.available | 2024-04-15T09:01:26Z | |
dc.date.issued | 2023-02 | |
dc.identifier.issn | 1892-753X | |
dc.identifier.uri | https://hdl.handle.net/11250/3126473 | |
dc.description.abstract | This paper examines the supply of U.S. LTO from both a theoretical and empirical point of view.
The theory model combines endogenous rig activity and stylized reservoir pressure mechanics
with the classic Hotelling model for exhaustible resource extraction. The empirical section
presents a vector error correction model for U.S. LTO production. Both models allow for
simultaneous modeling of U.S. LTO supply and rig activity. A one percent shock to the oil price is
estimated to increase LTO supply and rig activity with 0.3 and 0.8 percent, respectively. A one
percent increase in rig activity leads to a 1.7 percent increase in oil production, but also a 0.1
percent increase in costs. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Statistisk sentralbyrå | en_US |
dc.relation.ispartofseries | Discussion Papers;997 | |
dc.rights | Navngivelse-Ikkekommersiell 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc/4.0/deed.no | * |
dc.subject | Oil supply | en_US |
dc.subject | Rig activity | en_US |
dc.subject | Elasticity | en_US |
dc.subject | Tight oil | en_US |
dc.subject | Shale oil | en_US |
dc.subject | Vector error correction models | en_US |
dc.title | U.S. tight oil supply flexibility - A multivariate dynamic model for production and rig activity | en_US |
dc.type | Working paper | en_US |
dc.rights.holder | © Statistisk sentralbyrå | en_US |
dc.source.pagenumber | 67 | en_US |