Abstract
ABSTRACT In this paper, the structure, conduct and performance of the West Virginia natural gas producing industry is discussed. The competitiveness of the gas industry is measured empirically using the concept of concentration ratio and other features of industry structure. Trend analysis of the industry activities and outcomes shows no evidence of "market power" among West Virginia gas producers. The general drilling trends in West Virginia paralleled those of the entire U.S. Similarly, the trends in new gas discoveries, real wellhead price, gas exploratory drilling, to a large extent, are closely related. It was noted, however, that oil and gas operators in West Virginia took less risk in exploratory drilling between 1981-1987. It would appear that more exploration activities must be undertaken to reverse the current downward trends in new reserve additions in the 1990s.
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