Industry wants clarity on reserves, says SEC reserve rules out of dateAgency asked Gulf of Mexico operators in 2002 if they were using 1978-prescribed formation testing, historically interpreted as flow testing, to gauge deepwater reserves, a process that could take two years, cost upward of $35M Ray Tyson Petroleum News Houston Correspondent
In the year and half since the U.S. Securities and Exchange Commission put companies on notice concerning their methods of accounting for oil and gas reserves, industry’s world has been turned upside down with a flurry of high-profile reserve write-downs that has both shaken investor confidence in r....
[additional news subjects in this story]
SEC still evaluating responses SEC feels some companies ‘overly optimistic’ SEC taking a conservative approach Engineers joined SEC in 1999
You must be logged in to view this story. Please either log in or subscribe.
Click here to subscribe to Petroleum News for as low as $69 per year.
Subscribers log in here to read the entire newspaper (1998 to 06/24/2013)
Print this story | Email it to an associate.
Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583 [email protected] --- http://www.petroleumnews.com --- S U B S C R I B E
Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.
|