Certain reserves must be disclosed annually according to the guidelines established by the United States Securities and Exchange Commission (SEC). On January 14, 2009, the SEC published its Final Rule for the Modernization of Oil and Gas Reporting. This document supercedes prior SEC guidelines and associated supplemental guidance. The new rules were effective January 1, 2010.
The primary document governing SEC reserve disclosure requirements is the SEC's Final Rule for the Modernization of Oil and Gas Reporting. The guidelines established therein are explained and discussed by the SEC staff in various special SEC releases including the Staff Accounting Bulletin No. 113, an October 2009 Compliance and Disclosure Interpretation document, and a Small Entity Compliance Guide. Various SEC documents related to Proved Reserve disclosures can be found at the link below:
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