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The economic limit of an oil and gas asset occurs when income from production is less than the direct cost of operation. Economic limits determine the threshold for profitable operations and are often considered from a conceptual perspective rather than as an object for empirical assessment. The purpose of this paper is to derive empirical estimates of the economic limit of offshore structures in...
When the revenue generated from an oil and gas field is less than the cost of operations, the field is no longer considered an asset and production ceases. Capital investment may be made in an attempt to increase production or the field may be divested or abandoned. At some point in time all fields will terminate production at their economic limit. The purpose of this paper is to quantify the economic...
When the operating cost of a well is equal to its income from production, the well is no longer considered an asset and is said to have reached its economic limit. The purpose of this paper is to quantify the economic limit of hydrocarbon field production in Louisiana. We classify 690 fields that terminated production between 1977 and 2007 by product type, location, and year of termination and compute...
Hydrocarbon production is the process of extracting oil and gas reserves from the earth, and then treating, processing, and transporting the oil and gas to market. Production costs are those costs required to operate and maintain wells and related equipment and facilities. Production costs are generally not available in commercial databases, however, and must be derived from survey instruments or...
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