SEC Proposals for Revised Reserve Reporting to Help Investors Make Accurate Investment Decisions
New Proposal for Reserve Estimation and Valuation Aims to Reduce Instances of Reserve Overstatement
The existing rule concerning the reserve booking of oil and gas deposits of a petroleum company is based on the 1978 disclosure rule by SEC. As per the rule, petroleum companies that are listed in the New York Stock Exchange have to state their estimated reserves to the SEC. Under the existing reserve disclosure norms the companies show only the proven conventional reserves while the unconventional sources such as Oil Sands, CBM are excluded. Some companies have also leveraged the existing practice of reserve reporting to mislead the industry with regard to the quantity of their petroleum assets. This has created a certain level of public concern and has also affected the investors’ confidence.
• GlobalData viewpoints cover the latest events or important trends in the global oil and gas industry and provide our in-depth analysis of issues and challenges. Viewpoints offer expert opinions and GlobalData’s views of various developments that have been taking place in the oil and gas industry across the world.
Reasons to Buy
• Develop business strategies with the help of specific insights from GlobalData on the key events happening in the oil and gas industry.
• Gain a strong understanding of the energy market and analyze the major trends in the global oil and gas industry today
• Identify opportunities and challenges with the help of our analysis of the latest news and deals in the oil and gas industry
• Increase future revenue and profitability with the help of information on latest operational, financial, and regulatory events