Template-Type: ReDIF-Article 1.0
Author-Name:  M.A. Adelman and G. Campbell Watkins 
Title:  Costs of Aggregate Hydrocarbon Reserve Additions

Classification-JEL: F0
Pages:  37-52
Volume:  Volume 25
Issue:  Number 3
Year:  2004
Abstract:  `Oil Equivalence' is widely used to measure total hydrocarbon activity. Natural gas is converted to oil using a fixed factor, usually based on thermal measurement. In turn, expenditures on oil and gas are divided by such `oil equivalence' volumes to define unit costs, especially of reserve additions. This approach lacks economic content. We show its implicit assumptions and constraints, and develop an alternative aggregation method using index numbers, with an example.
Handle: RePEc:aen:journl:2004v25-03-a03
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1438
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