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SEC Reserves Reporting Regulations Series

This four-part webinar series will cover the reserves reporting regulations of the U.S. Securities & Exchange Commission. 

Presented by Professor John Lee

***To learn more about and to register for each individual session, please click on the "content" tab above.***

Topics discussed include:

(1) reserves definitions;
(2) reserves reporting requirements;
(3) SEC guidance; and
(4) recent information derived from the SEC in public presentations and comment letters.

Series Format

Each webinar is a 1-hour presentation followed by a live/recorded 30-minute Q&A session. 

***This package gives you access to all four webinars in the series or you can click to register for each individually.***

 

  • Module 1: SEC Reserves Definitions

    Contains 2 Component(s), 0.15 credits offered Recorded On: 03/01/2018

    This module will review the major SEC definitions and will identify major contrasts with PRMS.

    The SEC issued its latest definitions to be used as the basis for reserves filings in late 2008. These definitions are broadly similar to the definitions presented in the SPE Petroleum Resources Management System (PRMS), but differ in significant ways in a few instances. This module will review the major SEC definitions and will identify major contrasts with PRMS. 

    Dr. W. John Lee

    Von Gonten Chair in Petroleum Engineering, Texas A&M University

    Dr. Lee holds BS, MS and PhD degrees in chemical engineering from the Georgia Institute of Technology. Early in his career, John worked for ExxonMobil and specialized in integrated reservoir studies. He later joined the Petroleum Engineering faculty at Texas A&M, and became Regents Professor of Petroleum Engineering. While at A&M, he also served as a consultant with S.A. Holditch & Associates, where he specialized in reservoir engineering aspects of unconventional gas resources. Professor Lee joined the University of Houston faculty in September 2011 and held the Cullen Distinguished University Chair until September 2015, when he rejoined the Texas A&M Faculty. He served as an Academic Engineering Fellow with the U.S. Securities & Exchange Commission (SEC) in Washington during 2007-2008, and was a principal architect of the modernized SEC rules for reporting oil and gas reserves. John and his team received the SEC’s Law and Policy Award in 2009. Professor Lee is the author/co-author of four textbooks published by SPE and has received numerous awards from SPE, including the Lucas Medal, the DeGolyer Distinguished Service Medal and Honorary Membership. He has received Distinguished Achievement and Honorary Life Member Awards from SPEE and is a member of the U.S. National Academy of Engineering and the Russian Academy of Natural Sciences.

    SPE Webinars are FREE to members courtesy of the

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  • Module 2: SEC Reserves Reporting Requirements

    Contains 2 Component(s), 0.15 credits offered Recorded On: 03/08/2018

    This module will summarize major SEC reporting requirements.

    As part of its reserves modernization effort in 2008, the SEC issued new requirements for reporting reserves in filings with the Commission. These reserves reporting requirements have no parallel in either PRMS or in pre-2008 SEC regulations. This module will summarize major SEC reporting requirements.

    Dr. W. John Lee

    Von Gonten Chair in Petroleum Engineering, Texas A&M University

    Dr. Lee holds BS, MS and PhD degrees in chemical engineering from the Georgia Institute of Technology. Early in his career, John worked for ExxonMobil and specialized in integrated reservoir studies. He later joined the Petroleum Engineering faculty at Texas A&M, and became Regents Professor of Petroleum Engineering. While at A&M, he also served as a consultant with S.A. Holditch & Associates, where he specialized in reservoir engineering aspects of unconventional gas resources. Professor Lee joined the University of Houston faculty in September 2011 and held the Cullen Distinguished University Chair until September 2015, when he rejoined the Texas A&M Faculty. He served as an Academic Engineering Fellow with the U.S. Securities & Exchange Commission (SEC) in Washington during 2007-2008, and was a principal architect of the modernized SEC rules for reporting oil and gas reserves. John and his team received the SEC’s Law and Policy Award in 2009. Professor Lee is the author/co-author of four textbooks published by SPE and has received numerous awards from SPE, including the Lucas Medal, the DeGolyer Distinguished Service Medal and Honorary Membership. He has received Distinguished Achievement and Honorary Life Member Awards from SPEE and is a member of the U.S. National Academy of Engineering and the Russian Academy of Natural Sciences.

    SPE Webinars are FREE to members courtesy of the

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  • Module 3: SEC Guidance for Reserves Reporting

    Contains 2 Component(s), 0.15 credits offered Recorded On: 03/16/2018

    The SEC staff issued guidance in 2009 and in 2013, and we will explain the guidance in this module.

    The SEC has issued guidance intended to clarify reserves definitions and reporting requirements in documents it calls "Compliance and Disclosure Interpretations," or C&DI. The SEC staff issued guidance in 2009 and in 2013, and we will explain the guidance in this module.

    Dr. W. John Lee

    Von Gonten Chair in Petroleum Engineering, Texas A&M University

    Dr. Lee holds BS, MS and PhD degrees in chemical engineering from the Georgia Institute of Technology. Early in his career, John worked for ExxonMobil and specialized in integrated reservoir studies. He later joined the Petroleum Engineering faculty at Texas A&M, and became Regents Professor of Petroleum Engineering. While at A&M, he also served as a consultant with S.A. Holditch & Associates, where he specialized in reservoir engineering aspects of unconventional gas resources. Professor Lee joined the University of Houston faculty in September 2011 and held the Cullen Distinguished University Chair until September 2015, when he rejoined the Texas A&M Faculty. He served as an Academic Engineering Fellow with the U.S. Securities & Exchange Commission (SEC) in Washington during 2007-2008, and was a principal architect of the modernized SEC rules for reporting oil and gas reserves. John and his team received the SEC’s Law and Policy Award in 2009. Professor Lee is the author/co-author of four textbooks published by SPE and has received numerous awards from SPE, including the Lucas Medal, the DeGolyer Distinguished Service Medal and Honorary Membership. He has received Distinguished Achievement and Honorary Life Member Awards from SPEE and is a member of the U.S. National Academy of Engineering and the Russian Academy of Natural Sciences.

    SPE Webinars are FREE to members courtesy of the

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  • Module 4: Recent Information from the SEC

    Contains 2 Component(s), 0.15 credits offered Recorded On: 03/22/2018

    This module will present highlights of recent SEC staff presentations and of issues raised in comment letters.

    No formal guidance on reserves definitions or reporting requirements has been issued by the SEC since 2013, and the majority of that guidance was actually provided in October 2009. Reserves filers have come to depend on public presentations by SEC staff members and on exchanges of "comment letters" issued by staff members in which the staff often identifies issues of current concern. Portions of these letter exchanges between staff and reserves filers are made available to the public. This module will present highlights of recent SEC staff presentations and of issues raised in comment letters.

    Dr. W. John Lee

    Von Gonten Chair in Petroleum Engineering, Texas A&M University

    Dr. Lee holds BS, MS and PhD degrees in chemical engineering from the Georgia Institute of Technology. Early in his career, John worked for ExxonMobil and specialized in integrated reservoir studies. He later joined the Petroleum Engineering faculty at Texas A&M, and became Regents Professor of Petroleum Engineering. While at A&M, he also served as a consultant with S.A. Holditch & Associates, where he specialized in reservoir engineering aspects of unconventional gas resources. Professor Lee joined the University of Houston faculty in September 2011 and held the Cullen Distinguished University Chair until September 2015, when he rejoined the Texas A&M Faculty. He served as an Academic Engineering Fellow with the U.S. Securities & Exchange Commission (SEC) in Washington during 2007-2008, and was a principal architect of the modernized SEC rules for reporting oil and gas reserves. John and his team received the SEC’s Law and Policy Award in 2009. Professor Lee is the author/co-author of four textbooks published by SPE and has received numerous awards from SPE, including the Lucas Medal, the DeGolyer Distinguished Service Medal and Honorary Membership. He has received Distinguished Achievement and Honorary Life Member Awards from SPEE and is a member of the U.S. National Academy of Engineering and the Russian Academy of Natural Sciences.

    SPE Webinars are FREE to members courtesy of the

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