SPECIAL REPORT: Ryder Scott’s Harrell notes technical issues in reserves disclosures

06/20/2005
Oil companies find aspects of US Securities and Exchange Commission reserves reporting regulations troublesome and have difficulty persuading SEC engineers to fully embrace technology, said D. Ronald Harrell, chairman of Ryder Scott Co. LP.Ryder Scott helps oil and gas producers comply with SEC requirements.“The SEC reserves definitions were written solely from a North American perspective where state or province regulators determined appropriate well spacing metrics to optimize recovery and to protect competing mineral rights,” Harrell said.For example, SEC’s “one-offset” limits the addition to reserves from step-out drilling to wells drilled just one locati...
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