Reserves reporting rules seen to have pros, cons

Reserves definitions and reserves reporting standards are designed to help protect investors, but the US regulatory process sometimes actually constrains the amount of available public information, an analyst with IHS Energy said.Royal Dutch/Shell Group announced Jan. 9 that it had overestimated its proved oil and natural gas reserves by 3.9 billion boe, or 20% (OGJ Online, Jan. 9, 2004).The reporting of reserves helps investors evaluate a company's assets and compare various companies' financial performance, said Kenneth Chew, IHS Energy vice-president, industry performance and strategy."However, this works only if all companies report reserves to the same standards, and this is...

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