The Value of United States Oil and Gas Reserves

M.A. Adelman and G.C. Watkins


M.A. Adelman and G.C. Watkins, May 1996The object of this research is to estimate a time series, starting in 1979, for the value of in-ground oil reserves and natural gas reserves in the United States. Relatively good statistics exist for the physical quantities. (Regrettably, they will now be compiled only in alternate years.) Our task is to estimate the unit values. We focus mainly on data from the mid 1980s to the end of 1994.