Reporting Oil and Gas Reserves to the SEC

The United States Securities and Exchange Commission adopted new rules for filing oil and gas reserves reports. These new rules will go into effect January 1, 2010.

Dr. John Lee, who served as an Engineering Fellow with the SEC to help draft the new rules, will present a one day in-depth short course for industry personnel with a need to learn about the new SEC filing requirements.

This course is designed to promote Continuing Education Credits and Professional Development Hours.

The Instructor
Photography of Dr.  John LeeDr. W. John Lee is known throughout the world in petroleum reservoir engineering. He is the author of three textbooks published by SPE. Dr. Lee was elected to the National Academy of Engineering in 1993 and to Georgia Tech’s first class of its Academy of Distinguished Engineering Alumni in 1994, and became an Honorary Member of SPE in 2001.

Dr. Lee received the SPE DeGolyer Distinguished Service Medal in 2004, the AIME/SPE Anthony F. Lucas Gold Medal in 2003, and the AIME Mineral Industry Education Award in 2002. He received SPE’s Distinguished Service Award in 1992, the John Franklin Carll Award in 1995, and the Reservoir Engineering Award in 1986. He was named a Distinguished Member in 1987. He is also past member of the Board of Directors of SPE.

Topics Covered:

  • Proved Reserves and “Reasonable Certainty”
  • Proved Undeveloped Reserves
  • Unconventional Sources of Oil
  • P-3 Reporting
  • Price Sensitivity Analysis
  • Twelve-Month Average Pricing
  • Contents of Third-Party Reserve Reports, Qualifications of Evaluators and Corporate Objectivity

Course Description This one-day course will focus on discussions of guidance the SEC issued in late October on its new oil and gas reserves reporting rules. The guidance includes information on definitions in SEC Regulation S-X, disclosure requirements in SEC Regulation S-K, and guidance on accounting procedures that affect disclosures. In addition, we will discuss the Financial Accounting Standards Accounting Board’s proposals to bring SFAS 69 into accord with the new SEC rules. Any other new guidance that may be issued will also be topics of discussion.

Event Coordinator:

Alex Wisniewski
Event Coordinator
Phone: (979) 268-8959
Fax: (979) 268-8718
Email: Alex@PetroleumETC.com

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