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A Comparison of Oil Project NPV's in the North Sea Obtained using the Weighted Average Cost of Capital Discounting Method and a Modern Asset Pricing Method

Author

Listed:
  • Emhjellen, M.
  • Alaouze, C.M.

Abstract

This paper examines the difference in the net present values (NPV's) of North sea oil projects obtained using discounted cashflow methods based on the Weighted Average Cost of Capital (WACC) and a Modern Asset Pricing (MAP) method (Laughton and Jacoby, 1993; Jacoby and Laughton, 1992).

Suggested Citation

  • Emhjellen, M. & Alaouze, C.M., 1999. "A Comparison of Oil Project NPV's in the North Sea Obtained using the Weighted Average Cost of Capital Discounting Method and a Modern Asset Pricing Method," Papers 99/15, New South Wales - School of Economics.
  • Handle: RePEc:fth:nesowa:99/15
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    Cited by:

    1. Emhjellen, Magne & Alaouze, Chris M., 2002. "Project valuation when there are two cashflow streams," Energy Economics, Elsevier, vol. 24(5), pages 455-467, September.

    More about this item

    Keywords

    COSTS ; CAPITAL ; ENERGY;
    All these keywords.

    JEL classification:

    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • Q30 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - General

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