Significant differences in proved reserves estimates using SPE/WPC definitions compared to United States Securities and Exchange Commission definitions

SPE Reservoir Evaluation and Engineering

Volumn 8, Issue 6, 2005, Pages 520-527

  Harrell, D Ronald ^a   Gardner, Thomas L ^a  

^a Ryder Scott Co   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

ESTIMATION; GAS INDUSTRY; HYDROCARBONS; NATURAL GAS; PETROLEUM INDUSTRY; PETROLEUM RESERVOIR EVALUATION; SOCIETIES AND INSTITUTIONS; VOLUMETRIC ANALYSIS;

PROVED RESERVES ESTIMATES; SECURITIES AND EXCHANGE COMMISSION (CO); SOCIETIES OF PETROLEUM ENGINEERS (CO); WORLD PETROLEUM CONGRESSES (CO);

PETROLEUM RESERVOIR ENGINEERING;

ESTIMATION; GAS INDUSTRY; HYDROCARBONS; NATURAL GAS; PETROLEUM INDUSTRY; PETROLEUM RESERVOIR ENGINEERING; PETROLEUM RESERVOIR EVALUATION; SOCIETIES AND INSTITUTIONS; VOLUMETRIC ANALYSIS;

HYDROCARBON RESERVE; RESOURCE ASSESSMENT;

EID: 31444454603     PISSN: 10946470     EISSN: None     Source Type: Journal    
DOI: 10.2118/84145-pa     Document Type: Article

References (9)

1. U.S. SEC Regulation S-X, Rule 4-10 - Financial Accounting and Reporting for Oil and Gas Producing Activities Pursuant to the Federal Securities Laws and The Energy Policy and Conservation Act of 1975, U.S. Securities and Exchange Commission, Washington, DC.
2. Petroleum Reserves Definitions, SPE/WPC, Richardson, Texas (1997).
3. Harrell, D.R. and Acuna, H.: "Adapting Probabilistic Methods To Conform to Regulatory Guidelines," SPEREE (August 2002) 302.
4. Discussion comments made by SEC staff petroleum engineers during Society of Petroleum Evaluation Engineers (SPEE) -sponsored Forums to discuss SEC reserves definitions and applications, Houston, 31 October and 1 November 2000, 23 October 2001, and 22 October 2002.
5. U.S. Securities and Exchange Commission, www.sec.gov.
6. SEC website page, http:/www.sec.gov/divisions/corpfin/guidance/ oilgasltr04152004.htm.
7. Palke, M.R. and Rietz, D.C.: "The Adaptation of Reservoir Simulation Models for Use in Reserves Certification Under Regulatory Guidelines or Reserves Definitions," paper SPE 71430 presented at the 2001 SPE Annual Technical Conference and Exhibition, New Orleans. 30 September-3 October.
8. SEC website page, http://www.sec.gov/divisions/corpfin/guidance/ cfactfaq.htm#P279_57537.
9. Harrell, D.R., Hodgin, J.E., and Wagenhofer, T.: "Oil and Gas Reserves Estimates: Recurring Mistakes and Effors," paper SPE 91069 presented at the 2004 SPE Annual Technical Conference and Exhibition, Houston, 26-29 September.