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New SEC reserves rules

01/05/2009
The oil and gas industry will have modernized US Security and Exchange Commission’s rules for reporting oil and gas reserves. Ryder Scott Petroleum Consultants, in its most recent quarterly newsletter, summarized the industry’s concerns with the rules as proposed in July 2008.As of this writing, SEC had not made available the new rules on the internet but the rules will come into effect on Jan. 1, 2010.SEC published the proposed revisions to its oil and gas reporting requirements in July 9, 2008 (17 CFR Parts 210, 229, and 249). The rules will apply to companies that file with SEC.The existing rules are set out in Regulation S–K and Regulation S–X under the Securities Act of 1...
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