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The AAPG/Datapages Combined Publications Database

AAPG Bulletin

Abstract


Volume: 68 (1984)

Issue: 4. (April)

First Page: 500

Last Page: 500

Title: Are Our Oil and Gas Resource Assessments Realistic?: ABSTRACT

Author(s): Christopher J. Lewis

Abstract:

This paper reviews the results of assessments made in the past of United States oil and gas resources, including bidding in OCS lease sales (which are considered to reflect industry estimates of resources). It concludes that most estimates tend to be overly optimistic and suggests that the problem may be partially in the assessment of risk and partially in errors in the assumed resource distribution. It recommends that more use be made of the historical record in making these assessments.

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