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The Cost of Drilling for Oil and Gas: An Application of Constrained Robust Regression

 

作者: WilliamF. Eddy,   JosephB. Kadane,  

 

期刊: Journal of the American Statistical Association  （Taylor Available online 1982）
卷期: Volume 77, issue 378  

页码: 262-269

 

ISSN:0162-1459

 

年代: 1982

 

DOI:10.1080/01621459.1982.10477794

 

出版商: Taylor & Francis Group

 

关键词: Constrained regression;Cost of drilling;Iteratively reweighted least squares;Missing data;Petroleum;Robust regression

 

数据来源: Taylor

 

摘要:

The robust regression method of Huber (1973) is used to fit a model to the cost of drilling for petroleum. Because the model includes a categorical variable (well type), a linear constraint is imposed on the parameter estimates Because the model was fit to the logarithm of cost and because it will be used to make repeated predictions of cost, an adjustment that approximately unbiases the predictions is imposed. The numerical values of the estimates are discussed, and a comparison is made with ordinary least squares.

 

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