Modernization of the SEC Oil and Gas Reserves Reporting Requirements Conference Paper uri icon

abstract

  • Abstract Modernized US Securities and Exchange Commission (SEC) rules for reporting oil and gas reserves are now broadly consistent with the SPE definitions and generally reflect public requests for specific changes in the previous rules. Disclosure requirements based on the revised definitions feature use of annual average prices; wider use of reliable technologies; broader recognition of nontraditional resources, including those from oil sands, shales, and coal; optional disclosure of probable and possible reserves; and replacement of the "certainty" criterion for some reserves by a "reasonably certain" criterion. Official clarification of some of the new terms may be forthcoming; here, I provide my opinion of their intent.

name of conference

  • All Days

published proceedings

  • All Days

author list (cited authors)

  • Lee, W. J.

citation count

  • 4

complete list of authors

  • Lee, W John

publication date

  • October 2009