CERA: SEC should use SPE reserves definitions

Cambridge Energy Research Associates recommends that the US Securities and Exchange Commission rely on Society of Petroleum Engineers (SPE) methods for oil and gas reserves definitions.

The SEC regulates reserves disclosures by companies whose shares trade in the US. Currently, the SEC applies standards for estimates of “proved reserves” that have changed little since 1978 (OGJ, June 20, 2005, p. 20).