Industry groups mull certification program for reserves, evaluators

10/11/2004
The American Association of Petroleum Geologists and the Society of Petroleum Evaluation Engineers recently formed a joint committee to consider a voluntary certification program aimed at giving investors more confidence in industry estimates of oil and natural gas reserves.The move is an outgrowth of recent corporate scandals and the resulting emphasis on corporate governance."During the past year there has been a lot of publicity regarding reserves write-downs and concerns about the reliability of reserves disclosures," said Daniel J. Tearpock, chairman and CEO of Subsurface Consultants & Associates LLC, Houston, who is the AAPG representative on the management team for the intersociety...
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