Sec oil and gas disclosure rules
USA: SEC's latest draft of payment disclosure rules for oil and mining companies draws criticism from anticorruption groups. On 18 December 2019, the US Securities and Exchange Commission (SEC) released the latest draft of the Dodd-Frank Section 1504 rule, which requires companies operating in the extractive industries and listed on US stock exchanges to disclose payments to governments. Oil and Gas Reserve Reporting Requirements Based on the SEC Final Rule. The SEC Final Rule determines the disclosure requirements for oil and gas reserve reporting. It aims to modernize oil and gas disclosure requirements, putting them on the same page as current industry practices and reliable technological advances. As such, it gives Recently the Securities and Exchange Commission (SEC) Division of Corporation Finance issued new compliance and disclosure interpretations, and the SEC Office of the Chief Accountant released Staff Accounting Bulletin 113. Both documents clarify the application of the SEC's oil and gas disclosure rules issued in late 2008. The U.S. Securities and Exchange Commission (SEC) has given its approval to a rule that will require oil and gas companies to disclose payments they make to foreign governments. The SEC initially adopted its oil and gas disclosure requirements in 1978 and 1982. These disclosures were intended to provide investors with a method to value oil and gas companies, but the SEC was also concerned that unreliable technology would lead to investors receiving inaccurate information. Needless to say, the reliability of technology standard instructions for filing forms under securities act of 1933, securities exchange act of 1934 and energy policy and conservation act of 1975 - regulation s-k Subpart 229.1200. Disclosure by Registrants Engaged in Oil and Gas Producing Activities
1 Mar 2015 The SEC Final Rule—Modernization of Oil and Gas Reporting. For publicly traded U.S. E&P companies, oil and gas reserves reported in the
SEC’s New Oil and Gas Reserves Disclosure Rules Mayer Brown is a global legal services organization comprising legal practices that are separate entities ("Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; However, Rule 4-10 of Regulation S-X provides that oil and gas companies with cost-of-service oil and gas properties may give effect to any differences resulting from the ratemaking process, including regulatory requirements that a certain accounting method be used for the cost-of-service properties. The term “issuer” has the meaning given in Section 2(4) of the Securities Act of 1933, except that debt securities issued. by a state of the United States and its political subdivisions and agencies which are payable from and secured by the same source of revenue or taxing authority shall be considered to be securities of a single issuer. The rule requires all companies traded on US exchanges and involved in the commercial development of oil, gas or minerals to disclose payments made to any government and file annual reports with the SEC. The rule was formally adopted by the SEC in August 2012, but vacated by the US District Court for the District of Columbia in July 2013. The The rule is intended to bring transparency to bribes paid to foreign governments in exchange for oil, gas and mining rights overseas, but Robert Jackson Jr. and Allison Herren Lee, the two SEC commissioners who voted against the proposal Wednesday, said it would not achieve that aim.
8 Feb 2017 Says ExxonMobil "fought to kill" a rule requiring oil and mining The rule by the Securities and Exchange Commission requires oil, gas and had already adopted disclosure rules modeled on the original SEC version.
SEC’s New Oil and Gas Reserves Disclosure Rules Mayer Brown is a global legal services organization comprising legal practices that are separate entities ("Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP, a limited liability partnership established in the United States; However, Rule 4-10 of Regulation S-X provides that oil and gas companies with cost-of-service oil and gas properties may give effect to any differences resulting from the ratemaking process, including regulatory requirements that a certain accounting method be used for the cost-of-service properties. The term “issuer” has the meaning given in Section 2(4) of the Securities Act of 1933, except that debt securities issued. by a state of the United States and its political subdivisions and agencies which are payable from and secured by the same source of revenue or taxing authority shall be considered to be securities of a single issuer. The rule requires all companies traded on US exchanges and involved in the commercial development of oil, gas or minerals to disclose payments made to any government and file annual reports with the SEC. The rule was formally adopted by the SEC in August 2012, but vacated by the US District Court for the District of Columbia in July 2013. The The rule is intended to bring transparency to bribes paid to foreign governments in exchange for oil, gas and mining rights overseas, but Robert Jackson Jr. and Allison Herren Lee, the two SEC commissioners who voted against the proposal Wednesday, said it would not achieve that aim.
19 Dec 2019 Proposed rule on disclosure of payments by oil, gas and mining companies to The proposal—the third attempt by the SEC to implement a
6 Dec 2017 rule requiring public disclosure of payments made by oil, gas, and Pursuant of Section 1504, the SEC issued a Final Rule on July 27, 2016 8 Feb 2017 Says ExxonMobil "fought to kill" a rule requiring oil and mining The rule by the Securities and Exchange Commission requires oil, gas and had already adopted disclosure rules modeled on the original SEC version. 23 Mar 2016 To assess individual energy companies' climate risk, it combines policy scenarios with detailed company-level data on oil and gas reserves 22 Feb 2017 Congress and Trump Gut Disclosure Rules for Fossil Fuel Foreign Payments rules to reduce corruption in the global oil, gas and mining industries. Until last week, SEC regulations on Section 1504 of the Dodd-Frank Wall
31 Jan 2017 mining companies in rolling back a rule on foreign payment disclosures. SEC Rule Requiring Oil and Gas Companies to Disclose Foreign
26 Mar 2019 In connection with the adoption of the Final Rules, SEC Chairman Jay For example, the oil and gas industry guide was replaced by Item 1200 15 Jan 2020 Definition of “Commercial Development of Oil, Natural Gas, or Minerals”. 8. concern that the rule extended beyond the SEC's core mission. 20 Dec 2019 SEC Proposes Rules on Disclosure of Payments by Resource projects related to the commercial development of oil, natural gas, or minerals, SEC Regulation S-X Rule 4-10 states a company can only classify reserves as proved undeveloped if it has the following: A development plan in place; The intent 27 Dec 2019 An anti-corruption reporting requirement that calls on companies to disclose payments made to governments for extracting oil, gas, and
For a sample of oil and gas producers, the paper shows that commodity price risk disclosures similar to the SEC's new market risk disclosure rules (in particular, 18 Dec 2019 disclose payments to foreign governments for the commercial development of oil, natural gas, or minerals. The SEC adopted the first version Standard Measure of Oil and Gas (“SEC Value” of reserves or SMOG) based on current oil and gas disclosure rules often interfere with an investor's analysis