The Reserves Definitions Committee (RDC)

The Reserves Definitions Committee (RDC)

Rod Sidle,  Chair
Dave Elliott
John Etherington
Martin Hubbig
Russ Long
John Ritter
Rawdon Seager
Tim Smith

SEC Compliance and Disclosure Interpretation (C&DI) - aka Guidance:   

The U.S. Securities and Exchange Commission (“SEC”) recently contacted the SPEE, among other entities, to advise of new reserves guidance.  The latest guidance is contained in a May 16, 2013 SEC Compliance and Disclosure Interpretation (C&DI).  The C&DI release is a “cumulative style” report with all previous Interpretations contained in a singular report.  A link to both the report and the SEC website source follow below.
The purpose of SEC’s contact to SPEE is to broadly communicate notice of this new guidance throughout the reserves evaluation community.  It is our understanding from the SEC that further guidance will continue to be published, from time to time, with notice to SPEE and others.  Consistent with the SPEE Mission of communication, we will be providing alerts to our members and our industry as a whole by posting the very latest C&DI releases here on the SPEE website.

02 SEC C&DI May 16 2013.pdf                   


Reserves Definitions      

1997 SPE/WPC Petroleum Reserves Definitions (Replaced by PRMS)
2000 SPE/WPC/AAPG Petroleum Resource Definitions (Replaced by PRMS) 
2007 Update of 2001 Standards Document 
2007 SPE/WPC/AAPG/SPEE Petroleum Resources Management System (PRMS) 
2011 Guidelines for Application of Petroleum Resources Management System