Page 1. 1 Productivity in Exploration Drilling 1 by Petter Osmundsen*, Kristin Helen Roll** andRa... more Page 1. 1 Productivity in Exploration Drilling 1 by Petter Osmundsen*, Kristin Helen Roll** andRagnar Tveterås** * University of Stavanger / Norwegian School of Economics and Bus. Adm. ** University of Stavanger / International Research Institute of Stavanger ...
In industries characterized by frequent innovation and high productivity growth, substantial vari... more In industries characterized by frequent innovation and high productivity growth, substantial variation in produced quantity and input use may occur, leading to increased costs. An effect that has received little attention is that inefficiency can exacerbate environmental impacts. This effect is particularly important if environmentally damaging inputs are overused. In addition to increasing firms' costs, such inefficiency can also increase the environmental impact of the firm's activity. This makes the degree of inefficiency in an industry an issue for environmental regulators. In this paper, we estimate technical and allocative efficiency for a sample of Norwegian salmon farmers. Our results show that both technical and allocative inefficiency on average are significant in explaining the level and variation in farm costs, and that the main environmental impact due to inefficiency from the Norwegian salmon aquaculture industry has its origin in technical inefficiency. This does not mean that the industry will increase its demand for marine feed ingredients at the same rate in the future, because it still has considerable technical scope for changing the mix of ingredients in the feed; for instance, from marine to vegetable ingredients . The global supply of marine feed ingredients is limited by fish stocks and is many times smaller than the vegetable substitutes. As marine ingredients become scarcer relative to vegetable ingredients, one would expect substitution away from fish oil and meal.
Productivity growth and competitiveness indicate that salmon supply is price responsive. However,... more Productivity growth and competitiveness indicate that salmon supply is price responsive. However, in the short run supply is likely to be constrained by the biological production process, regulations, and capacity constraints. In this article, we estimate a restricted profit function for Norwegian salmon producers, which allows us to examine the industry’s short-run and long-run supply responsiveness separately. Using data spanning
In this paper we are investigating how production risk may influence the way a risk averse produc... more In this paper we are investigating how production risk may influence the way a risk averse producer like a subsistence farmer chooses optimal input levels. Risk averse producers will take into account both the mean and the variance of output, and therefore we expect them to choose input levels which differ form the optimal input level of risk neutral producers.
Aquaculture production has increased rapidly during the last three decades. This is due to increa... more Aquaculture production has increased rapidly during the last three decades. This is due to increased production of established species as well as a continuous introduction of new species. Productivity growth is the main engine for the increased production in aquaculture, and as the accumulated knowledge is applied to new species and in new regions, production is expected to continue to
... Trude B. Anderson is a Ph.D. candidate and Kristin H. Roll and Sigbjorn Tveteras are associat... more ... Trude B. Anderson is a Ph.D. candidate and Kristin H. Roll and Sigbjorn Tveteras are associate profes-sors at the University of Stavanger, 4036 Stavanger, Norway, email: Trude.Thomassen@ uis.no, [email protected], and sigbjorn.tveteras.uis.no, respectively. Page 2. ...
Recently, we have seen falling oil prices combined with sticky costs at a high level in the petro... more Recently, we have seen falling oil prices combined with sticky costs at a high level in the petroleum industry. This causes project postponements, thus challenging reserve replacement of oil companies and security of supply for consumers. Costs are particularly high for drilling. High rig rates are obviously important. In addition we experience a dramatic fall in drilling productivity. This paper analyses the development in drilling productivity in exploration wells at the Norwegian continental shelf. A unique dataset allows us to apply econometric analyses to ascertain vital explanatory factors for variation in drilling productivity over time and between different wells. 1 We would express our thanks for rewarding conversations with and comments on the article itself from a number of key specialists in oil the Norwegian Petroleum Directorate, oil companies, rig contractors and oil service enterprises.
We would express our thanks for rewarding conversations with and comments on the article itself f... more We would express our thanks for rewarding conversations with and comments on the article itself from a number of key specialists in oil the Norwegian Petroleum Directorate, oil companies, rig contractors and oil service enterprises. We also thank Bernt Aadnøy at the University of Stavanger for valuable support. We are also grateful for useful comments from seminar participants at the University of Aberdeen, the University of Stavanger, and the 2010 IAEE international conferences in Rio and Vilnius. Funding from the Norwegian Research Council is appreciated.
Page 1. Chapter 9 Future Trends in Aquaculture: Productivity Growth and Increased Production Fran... more Page 1. Chapter 9 Future Trends in Aquaculture: Productivity Growth and Increased Production Frank Asche,1,* Kristin H. Roll2, and Sigbjørn Tveterås2 Abstract The introduction of semi-intensive and intensive farming practice ...
ABSTRACT Drilling expenses has increased sharply in recent years. The productivity of drilling op... more ABSTRACT Drilling expenses has increased sharply in recent years. The productivity of drilling operations - in terms of meters drilled per day - significantly influences exploration costs. Hence it is important to understand the factors that determine drilling productivity. In this study we analyze the effect of different types of experience or learning on offshore drilling productivity. The econometric analysis employs a large data set on exploration wells from the Norwegian Continental Shelf, covering most of its 45 year drilling history. Many other industries have a steep learning curve. A central question here is if learning effects also contribute to increased productivity in petroleum exploration drilling. Furthermore, to what extent do diseconomies associated with reservoir depletion effects and limited acreage counteract learning effects on productivity?
... DOI: 10.1080/13657300902881641 Frank Asche a b * , Kristin H. Roll a & Trine Trollvik c p... more ... DOI: 10.1080/13657300902881641 Frank Asche a b * , Kristin H. Roll a & Trine Trollvik c pages 76-93. ... 10 Young and Muir (2002) provide an interesting discussion of the competitive advantages of tilapia on both the production and market sides. ...
Travel cost is a barrier for many tourists who wish to visit faraway destinations. This affects e... more Travel cost is a barrier for many tourists who wish to visit faraway destinations. This affects exotic tourism destinations located far from key markets since it the great majority of travelers from these markets will find travel cost prohibitively high. However, exotic tourism destinations might attract more visitors if they are able to improve market access through improved international air
Page 1. 1 Productivity in Exploration Drilling 1 by Petter Osmundsen*, Kristin Helen Roll** andRa... more Page 1. 1 Productivity in Exploration Drilling 1 by Petter Osmundsen*, Kristin Helen Roll** andRagnar Tveterås** * University of Stavanger / Norwegian School of Economics and Bus. Adm. ** University of Stavanger / International Research Institute of Stavanger ...
In industries characterized by frequent innovation and high productivity growth, substantial vari... more In industries characterized by frequent innovation and high productivity growth, substantial variation in produced quantity and input use may occur, leading to increased costs. An effect that has received little attention is that inefficiency can exacerbate environmental impacts. This effect is particularly important if environmentally damaging inputs are overused. In addition to increasing firms' costs, such inefficiency can also increase the environmental impact of the firm's activity. This makes the degree of inefficiency in an industry an issue for environmental regulators. In this paper, we estimate technical and allocative efficiency for a sample of Norwegian salmon farmers. Our results show that both technical and allocative inefficiency on average are significant in explaining the level and variation in farm costs, and that the main environmental impact due to inefficiency from the Norwegian salmon aquaculture industry has its origin in technical inefficiency. This does not mean that the industry will increase its demand for marine feed ingredients at the same rate in the future, because it still has considerable technical scope for changing the mix of ingredients in the feed; for instance, from marine to vegetable ingredients . The global supply of marine feed ingredients is limited by fish stocks and is many times smaller than the vegetable substitutes. As marine ingredients become scarcer relative to vegetable ingredients, one would expect substitution away from fish oil and meal.
Productivity growth and competitiveness indicate that salmon supply is price responsive. However,... more Productivity growth and competitiveness indicate that salmon supply is price responsive. However, in the short run supply is likely to be constrained by the biological production process, regulations, and capacity constraints. In this article, we estimate a restricted profit function for Norwegian salmon producers, which allows us to examine the industry’s short-run and long-run supply responsiveness separately. Using data spanning
In this paper we are investigating how production risk may influence the way a risk averse produc... more In this paper we are investigating how production risk may influence the way a risk averse producer like a subsistence farmer chooses optimal input levels. Risk averse producers will take into account both the mean and the variance of output, and therefore we expect them to choose input levels which differ form the optimal input level of risk neutral producers.
Aquaculture production has increased rapidly during the last three decades. This is due to increa... more Aquaculture production has increased rapidly during the last three decades. This is due to increased production of established species as well as a continuous introduction of new species. Productivity growth is the main engine for the increased production in aquaculture, and as the accumulated knowledge is applied to new species and in new regions, production is expected to continue to
... Trude B. Anderson is a Ph.D. candidate and Kristin H. Roll and Sigbjorn Tveteras are associat... more ... Trude B. Anderson is a Ph.D. candidate and Kristin H. Roll and Sigbjorn Tveteras are associate profes-sors at the University of Stavanger, 4036 Stavanger, Norway, email: Trude.Thomassen@ uis.no, [email protected], and sigbjorn.tveteras.uis.no, respectively. Page 2. ...
Recently, we have seen falling oil prices combined with sticky costs at a high level in the petro... more Recently, we have seen falling oil prices combined with sticky costs at a high level in the petroleum industry. This causes project postponements, thus challenging reserve replacement of oil companies and security of supply for consumers. Costs are particularly high for drilling. High rig rates are obviously important. In addition we experience a dramatic fall in drilling productivity. This paper analyses the development in drilling productivity in exploration wells at the Norwegian continental shelf. A unique dataset allows us to apply econometric analyses to ascertain vital explanatory factors for variation in drilling productivity over time and between different wells. 1 We would express our thanks for rewarding conversations with and comments on the article itself from a number of key specialists in oil the Norwegian Petroleum Directorate, oil companies, rig contractors and oil service enterprises.
We would express our thanks for rewarding conversations with and comments on the article itself f... more We would express our thanks for rewarding conversations with and comments on the article itself from a number of key specialists in oil the Norwegian Petroleum Directorate, oil companies, rig contractors and oil service enterprises. We also thank Bernt Aadnøy at the University of Stavanger for valuable support. We are also grateful for useful comments from seminar participants at the University of Aberdeen, the University of Stavanger, and the 2010 IAEE international conferences in Rio and Vilnius. Funding from the Norwegian Research Council is appreciated.
Page 1. Chapter 9 Future Trends in Aquaculture: Productivity Growth and Increased Production Fran... more Page 1. Chapter 9 Future Trends in Aquaculture: Productivity Growth and Increased Production Frank Asche,1,* Kristin H. Roll2, and Sigbjørn Tveterås2 Abstract The introduction of semi-intensive and intensive farming practice ...
ABSTRACT Drilling expenses has increased sharply in recent years. The productivity of drilling op... more ABSTRACT Drilling expenses has increased sharply in recent years. The productivity of drilling operations - in terms of meters drilled per day - significantly influences exploration costs. Hence it is important to understand the factors that determine drilling productivity. In this study we analyze the effect of different types of experience or learning on offshore drilling productivity. The econometric analysis employs a large data set on exploration wells from the Norwegian Continental Shelf, covering most of its 45 year drilling history. Many other industries have a steep learning curve. A central question here is if learning effects also contribute to increased productivity in petroleum exploration drilling. Furthermore, to what extent do diseconomies associated with reservoir depletion effects and limited acreage counteract learning effects on productivity?
... DOI: 10.1080/13657300902881641 Frank Asche a b * , Kristin H. Roll a & Trine Trollvik c p... more ... DOI: 10.1080/13657300902881641 Frank Asche a b * , Kristin H. Roll a & Trine Trollvik c pages 76-93. ... 10 Young and Muir (2002) provide an interesting discussion of the competitive advantages of tilapia on both the production and market sides. ...
Travel cost is a barrier for many tourists who wish to visit faraway destinations. This affects e... more Travel cost is a barrier for many tourists who wish to visit faraway destinations. This affects exotic tourism destinations located far from key markets since it the great majority of travelers from these markets will find travel cost prohibitively high. However, exotic tourism destinations might attract more visitors if they are able to improve market access through improved international air
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