U. S. Regulations

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 
http://www.sec.gov/divisions/corpfin/guidance/oilandgas-interp.htm#106-01

SEC:

12-31-2008  Modernization of Oil and Gas Reporting: Final Rule 
05-16-2013 Compliance and Disclosure Interpretations Oil and Gas Rules
Source document: http://www.sec.gov/divisions/corpfin/guidance/oilandgas-interp.htm#106-01
Link to Ryder Scott SEC Seeker® Database Click Here

 

FASB:

01-2010 Final FASB (Topic 932)

 

IRS:

IRS O&G Definitions Rules
07-30-2004 IRS Safe Harbor for O&G Reserves.pdf