SEC Approves 'Modernized' Oil, Gas Reporting Rules

Law360, New York (December 30, 2008, 12:00 AM EST) -- The U.S. Securities and Exchange Commission on Monday unanimously approved revisions to its oil and gas company reporting requirements that the commission says will allow investors to make more informed decisions when they invest in oil companies.

The SEC is calling the new rules a “modernization” of existing statutes that will allow investors to better take into account the significant technological changes in the oil and gas industry over the last quarter-century.

Under the new rules, companies would be required to report oil and gas reserves...
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