Royal Dutch/Shell publishes new reserves policy

Royal Dutch/Shell Group has published its new internal policy on booking oil and gas reserves, adopted after a series of reserves writedowns.Starting in January 2004, Shell reclassified reserves five times, reducing its estimates in proved undeveloped and proved developed categories. Most of the adjustments involved overestimates in Nigeria and the Gorgon development-linked to a proposed LNG export project-off Australia (OGJ, Jan. 19, 2004, p. 28). Ultimately, the company reclassified more than a fifth of its reserves.The policy, published June 9 in a 41-page technical report, applies to proved reserves. Shell applied the policy to its most recent filing of reserves estimates for 2004.&ld...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected