Globally, there are significant quantities of natural gas reserves that lie economically or physically stranded from markets. Options to monetize such reserves include Gas to Liquids (GTL) and Liquefied Natural Gas (LNG) technologies. GTL is a unique monetization option that brings natural gas products to crude oil markets. This technology is commercially immature, appears to have attractive market potential, requires substantial capital investments, and has uncertain operating costs and revenue generation. LNG is a more established monetization option. Project economics for the two technologies are reviewed, as well as literature evaluating such for either or both. Discounted cash flow models are studied for two project scenarios, and results are discussed and compared. The modeling effort seeks to inform the decision to invest in GTL or LNG for the monetization of a stranded gas reserve. / text

Includes bibliographical references.

At head of title: "NERDDC/SENRAC Research Project." / Three folded maps in pocket / Two microfiches in pocket / Bibliography: leaves 155-187 / 118, [70] leaves, [23] leaves of plates : ill. (chiefly col.), maps ; 30 cm. + 2 microfiches / Title page, contents and abstract only. The complete thesis in print form is available from the University Library. / Thesis (Ph.D.)--University of Adelaide, National Centre for Petroleum Geology & Geophysics (NCPGG) /Dept. of Geology & Geophysics, 1993

This study investigates the use of discretion by oil and gas companies in reporting financial performance and oil and gas reserve estimates during times of high political scrutiny resulting from increases in energy prices. Hypotheses tested in prior literature state that companies facing the risk of increasing taxes or new regulations reduce reported earnings to reduce this risk. This study uses a measure of high profitability (rank order of return on assets relative to industry peers) to identify oil and gas companies more likely to manage earnings during the period from 2002 to 2008. Two measures of discretionary accruals (total and current discretionary accruals), and a measure of discretionary depreciation, depletion, and amortization (DDA) were used as indicators of discretion exercised in reporting earnings. Data on oil and gas reserve disclosures was also hand-collected from Forms 10-K to investigate whether managers use reserve estimate revisions to reduce reported earnings through increasing the annual depletion expense. Results suggest that both oil and gas refining and producing firms use negative discretionary accruals to reduce reported earnings. Results also indicate that profitability is an important determinant of the use of negative discretionary accruals by these companies regardless of the time period examined. There is also evidence that oil and gas producing firms opportunistically revise their oil and gas reserve estimates to increase depreciation, depletion, and amortization expense during periods of high oil prices.