Petroleum Resources Management System
A new Petroleum Resources Management System was approved by the Society of Petroleum Engineers (SPE) Board of Directors in March 2007, culminating two years of intense collaboration by SPE, the World Petroleum Council (WPC), the American Association of Petroleum Geologists (AAPG), and the Society of Petroleum Evaluation Engineers (SPEE). The system also was approved by the boards of the other societies following a significant industry review and comment period.
Coordinated by the SPE Oil and Gas Reserves Committee (OGRC), the new Petroleum Resources Management System consolidates, builds on, and replaces guidance previously contained in the 1997 SPE/WPC Petroleum Reserves Definitions, the 2000 SPE/WPC/AAPG Petroleum Resources Classification and Definitions publications, and the 2001 SPE/WPC/SPEE Guidelines for the Evaluation of Petroleum Reserves and Resources. New reserves auditing guidelines to accompany the new Petroleum Resources Management System were also approved by the SPE Board.
Petroleum Resources Management System - 2007 
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More information about the process by which the new definitions were developed
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