SEC updates reserves reporting regulations

02/16/2009
The recently updated US Securities and Exchange Commission reserves reporting requirements for oil and natural gas companies attempt to provide investors with more meaningful and comparable disclosures.The updated rules will come into effect for filings after Jan. 1, 2010, unless SEC delays the date.This update modifies oil and gas reporting disclosures adopted in 1978 and 1982 based on Regulation S-K and Regulation S-X under the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as Industry Guide 2.SEC says, “The revisions are intended to provide investors with a more meaningful and comprehensive understanding of oil and gas reserves, which should help investor...
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