STATE OF ALASKA OIL AND GAS LEASE BONUS BIDS: A STATISTICAL STUDY.

E. L. Dougherty; P. L. Dobey; J. Lohrenz

doi:10.2118/7995-ms

STATE OF ALASKA OIL AND GAS LEASE BONUS BIDS: A STATISTICAL STUDY.

E. L. Dougherty^*
, P. L. Dobey
, J. Lohrenz

^*Corresponding author for this work

King Fahd University of Petroleum & Minerals

Research output: Contribution to conference › Paper › peer-review

1 Scopus citations

Abstract

State of Alaska oil and gas bonus lease bidding includes the North Slope sale where bonuses paid averaged 2, 000 per acre and over 20 other sales averaging about 30 per acre. The authors studied these bids examining the statistical behavior of the North Slope sale bids compared to the very much lower bids of the other lease sales. The most interesting finding was that while the North Slope sale bids displayed the same disparity with respect to money left on the table which may be due to bidders' flinching, the bids of the other sales exhibited an exactly opposite disparity which may be due to the opposite of flinching, i. e. , bidders ″plunging″ and bidding more than they would bid otherwise for these very much cheaper bonus leases.

Original language	English
DOIs	https://doi.org/10.2118/7995-ms
State	Published - 1979

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General Engineering

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@conference{5d3e10eb159f4972994c9e7881b1c2af,

title = "STATE OF ALASKA OIL AND GAS LEASE BONUS BIDS: A STATISTICAL STUDY.",

abstract = "State of Alaska oil and gas bonus lease bidding includes the North Slope sale where bonuses paid averaged 2, 000 per acre and over 20 other sales averaging about 30 per acre. The authors studied these bids examining the statistical behavior of the North Slope sale bids compared to the very much lower bids of the other lease sales. The most interesting finding was that while the North Slope sale bids displayed the same disparity with respect to money left on the table which may be due to bidders' flinching, the bids of the other sales exhibited an exactly opposite disparity which may be due to the opposite of flinching, i. e. , bidders ″plunging″ and bidding more than they would bid otherwise for these very much cheaper bonus leases.",

author = "Dougherty, \{E. L.\} and Dobey, \{P. L.\} and J. Lohrenz",

year = "1979",

doi = "10.2118/7995-ms",

language = "English",

}

TY - CONF

T1 - STATE OF ALASKA OIL AND GAS LEASE BONUS BIDS

T2 - A STATISTICAL STUDY.

AU - Dougherty, E. L.

AU - Dobey, P. L.

AU - Lohrenz, J.

PY - 1979

Y1 - 1979

N2 - State of Alaska oil and gas bonus lease bidding includes the North Slope sale where bonuses paid averaged 2, 000 per acre and over 20 other sales averaging about 30 per acre. The authors studied these bids examining the statistical behavior of the North Slope sale bids compared to the very much lower bids of the other lease sales. The most interesting finding was that while the North Slope sale bids displayed the same disparity with respect to money left on the table which may be due to bidders' flinching, the bids of the other sales exhibited an exactly opposite disparity which may be due to the opposite of flinching, i. e. , bidders ″plunging″ and bidding more than they would bid otherwise for these very much cheaper bonus leases.

AB - State of Alaska oil and gas bonus lease bidding includes the North Slope sale where bonuses paid averaged 2, 000 per acre and over 20 other sales averaging about 30 per acre. The authors studied these bids examining the statistical behavior of the North Slope sale bids compared to the very much lower bids of the other lease sales. The most interesting finding was that while the North Slope sale bids displayed the same disparity with respect to money left on the table which may be due to bidders' flinching, the bids of the other sales exhibited an exactly opposite disparity which may be due to the opposite of flinching, i. e. , bidders ″plunging″ and bidding more than they would bid otherwise for these very much cheaper bonus leases.

UR - https://www.scopus.com/pages/publications/85088405828

U2 - 10.2118/7995-ms

DO - 10.2118/7995-ms

M3 - Paper

AN - SCOPUS:85088405828

ER -

STATE OF ALASKA OIL AND GAS LEASE BONUS BIDS: A STATISTICAL STUDY.

Abstract

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