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ARTICLE · 09 FEBRUARY 2009

SEC Modernizes Requirements For Reporting Oil And Gas Reserves

Jones Day
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On December 29, 2008, the United States Securities and Exchange Commission (the "SEC") issued a final rule adopting amendments to its oil and gas reporting requirements, which exist in their current form in Regulation S-K and Regulation S-X under the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as Industry Guide 2.

United StatesEnergy and Natural Resources
Shahid Ghauri
Shahid Ghauri
Julie Gremillion
Julie Gremillion
Kathleen McLaurin
Kathleen McLaurin
J. Metts
J. Metts
Angela Olivarez
Angela Olivarez
Jeffrey Schlegel
Jeffrey Schlegel
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On December 29, 2008, the United States Securities and Exchange Commission (the "SEC") issued a final rule adopting amendments to its oil and gas reporting requirements, which exist in their current form in Regulation S-K and Regulation S-X under the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as Industry Guide 2. The amendments modernize and update the manner in which companies disclose their oil and gas reserves in SEC filings by taking into account significant changes in the oil and gas industry since the SEC's adoption of its original rules more than 25 years ago. The SEC's goal was to provide investors with more meaningful and comprehensive information on oil and gas reserves by aligning reporting requirements with current and technological advancements.

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