Oil and Gas Reserves: The SEC Reporting Rules


Management and Information

Description

This course provides substantial detail and interpretation of the US Securities and Exchange Commission’s modernized rules for reporting oil and gas reserves.

Topics Include:

  • Discussions on classifying resources
  • The SPE/WPC/AAPG/SPEE Petroleum Resources Management System (PRMS), which is the basis for many of the new SEC reserves definitions
  • The effects of the new rules on nontraditional resource disclosures
  • Recommendations for adapting to the new rules
  • Lectures and discussions are included, with more than half of the time devoted to solutions from class problems and exercises.
  • The course workbook includes relevant publications of the SEC, SPE, and the Financial Accounting Standards Board.
  • This course information has been updated to include the latest changes in SEC rules and regulations.

Learning Level

Intermediate

Course Length

2 Days

Why Attend?

This course will help engineers, geoscientists, and business managers correctly interpret and apply the SEC’s modernized oil and gas reserves reporting rules. It will provide useful comparisons of the SEC rules with the SPE/WPC/AAPG/SPEE/SEG Petroleum Resources Management Systems definitions.

Who Should Attend

Anyone in the petroleum industry who deals with the reporting of oil and gas reserves will benefit from this course.

Special Requirements

Participants must bring laptops to class.

CEUs

1.6 CEUs (Continuing Education Units) are awarded for this 2-day course.

Cancellation Policy

To receive a full refund, all cancellations must be received in writing no later than 14 days prior to the course start date. Cancellations made after the 14-day window will not be refunded. Send cancellation requests by email to trainingcourses@spe.org; by fax to +1.866.460.3032 (US) or +1.972.852.9292 (outside US); or mail to SPE Registration, PO Box 833836, Richardson, TX 75083.

Instructor

W. John Lee holds the Hugh Roy and Lillie Cranz Cullen Distinguished University Chair at the University of Houston’s petroleum engineering program. Prior to this, Lee held the L.F. Peterson Chair in petroleum engineering at Texas A&M University where he is now professor emeritus. He was the former executive vice president of S.A. Holditch & Associates, where he specialized in reservoir engineering for unconventional gas reservoirs. He served as an Academic Engineering Fellow with the US Securities and Exchange Commission (SEC) in Washington during 2007–2008, and was a principal architect of the new SEC rules for reporting oil and gas reserves.

Prior to beginning his career in academia, Lee managed Exxon’s Major Fields Study Group. He has written many technical papers and three SPE textbooks: Well Testing, Gas Reservoir Engineering, and Pressure Transient Testing. Lee is an Honorary Member of SPE and a member of the US National Academy of Engineering. He received his BChE, MS, and PhD degrees in chemical engineering from the Georgia Institute of Technology.

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