SEC Proposes Change In Oil, Gas Reporting

The Securities and Exchange Commission proposed allowing oil and gas companies to include in regulatory filings additional information about their reserve inventories, a measure analysts and investors use to gauge a company’s prospects.

If adopted, the change proposed Thursday would increase reserves results at a time when they have been on the decline. The SEC plan would allow oil and gas companies to include previously excluded sources of oil, such as tar sands, and disclose “probable and possible” reserves, not just those proven to exist. It will also permit companies to use newer technology to calculate their proven reserves.

Wall Street Journal

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