| Izvleček: | SEC Definitions of Proved Oil and Gas Reserves (Regulation S-X, Article 4) <br/> So much has recently been heard of these SEC definitions that we felt it would be useful to record precisely what they are. We realise that some readers of Forum will be able to quote them, probably in their sleep, line by line, but there may be others who will be surprised to find how uncomplicated they seem to be, at least until the experts set about complicating them. At any rate, here they are: subsections (2), (3) and (4) of the Definitions under Reg. 210.4-10 which ‘prescribes financial accounting and reporting standards …. pursuant to Section 503 of the Energy Policy and Conservation Act of 1975 (EPCA) …. And section 11,c of the Energy Supply and Environmental Coordination Act of 1974 as amended by section 505 of EPCA.’
|
|---|