We develop a model for optimal discrete periodic capital investment and dynamic production of shale gas wells and econometrically estimate early period cumulative production functions for vertical and horizontal well technologies. Results indicate reservoir and completion outcomes have...

Empirical tests of the theory of exhaustible resources have come to conflicting conclusions concerning the validity of the theory to exhaustible resources to explain owners' production decisions. This paper develops the theoretical framework, alternative measures of the unobservable in situ...