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Summary of SEC Proposed Revisions to Oil & Gas Reporting Regulations
July 8, 2008 Full PDF
On June 26, 2008, the U.S. Securities and Exchange Commission ("SEC") proposed new rules to its oil and gas reporting regulations to better reflect technological advances and changes in the industry since 1982. The proposed new rules are the result of the SEC's review of 80 comment letters received subsequent to a request by the SEC that market participants express their views on how oil and gas reserves reporting should be modernized. This memorandum summarizes the key elements of the SEC proposal.