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Seismic in reserves reporting
04/14/2008
Industry comments on US federal reserves reporting rules indicate that oil and gas companies believe seismic data could play important roles.The Securities and Exchange Commission asked for comments about modernizing its 1978 reserves reporting rules, and some in the industry believe the commission plans to update the procedures.In the 30 years since the SEC established its rules, the industry has made dramatic advances in seismic surveying and imaging, many of which have been chronicled in this magazine.Indeed, 3D seismic surveying technology, invented by ExxonMobil Corp. predecessor Humble Oil & Refining Co. in 1963, was hardly available to the wider industry by the time the SEC pla...
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