The WSJ is reporting that the Security and Exchange Commission has amended its guidance on how the agency interprets reserve accounting rules for oil and natural gas companies. The primary changes: Removing the exclusion for unconventional methods used in oil sands and shale gas development and changing the price used in determining reserves.
For more, see here (look for SAB, "Staff Accounting Bulletin" 113).
(Note - Subscription required for WSJ article).
Tags: Energy
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