Watching Government: New SEC rules: too late for ’08

01/12/2009
Publicly traded producers were elated when the US Securities and Exchange Commission (SEC) adopted new oil and gas reserves disclosure regulations Dec. 29, 2008. They also wish it had happened sooner.“It’s unfortunate that the rules weren’t modified before now. It’s good news they’re changing, but not soon enough to help producers in 2008,” explained Frederick Lawrence, the Independent Petroleum Association of America’s vice-president of economics and international affairs. “Generally speaking, we think they’re still a huge improvement over the very archaic rules which previously were in place.” The new rules take effect Jan. 1, ...
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