Best Practices in Resource Assessments and Reserves Disclosures

E029 Best Practices in Resource Assessments and Reserves Disclosures Introduction 1 Recent reserve “write-downs” have attracted increased surveillance from regulatory agencies focused on disclosure compliance. Not only do such reserves surprises negatively impact company share valuations but also senior management and directors may be exposed to civil and even criminal penalties. At the same time many oil and gas companies have been reengineering the processes by which they assess store and report their estimates of total recoverable hydrocarbons (i.e. resources) to better support their internal portfolio management. This presentation reviews “best practices” that foster rigorous assessments of a company’s total