SEC Seeks To Revise Oil, Gas Reporting Rules

Law360, New York (June 26, 2008, 12:00 AM EDT) -- Aiming to give investors a better sense of the oil and gas reserves a company holds, the U.S. Securities and Exchange Commission has proposed new reporting requirements for energy companies.

If more precise information from oil and gas companies is made available to investors and the marketplace, investors would not be forced to rely only on information provided by speculators, the SEC said.

Under the proposed rules, companies would be required to report oil and gas reserves using an average price based upon the prior 12-month...
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