The proposed 2007 Petroleum Reserves and Resources Classification, Definitions and Guidelines are now ready for industry review. This document is sponsored jointly with the World Petroleum Council (WPC), American Association of Petroleum Geologists (AAPG) and Society of Petroleum Evaluation Engineers (SPEE). The proposed system would update and replace the current evaluation standards for the international petroleum industry as contained in the 1997 SPE/WPC Petroleum Reserves Definitions and the 2000 SPE/WPC/AAPG Petroleum Resources Classification and Definitions.
While national reporting and regulatory disclosure agencies would reference these standards, the revised guidelines will not replace those currently required by these agencies. To view the draft definitions, visit www.spe.org/reserves. Please send comments to: ogr@spe.org Individual opinions are welcome. However, SPE requests that interested organizations review the proposal and then submit a consolidated opinion, based on internal employee consensus.
Review Deadline: 1 February 2007 Source: Society of Petroleum Engineers
Recommended Reading
Equinor Releases Overview of Share Buyback Program
2024-04-17 - Equinor said the maximum shares to be repurchased is 16.8 million, of which up to 7.4 million shares can be acquired until May 15 and up to 9.4 million shares until Jan. 15, 2025 — the program’s end date.
ProPetro Ups Share Repurchases by $100MM
2024-04-25 - ProPetro Holding Corp. is increasing its share repurchase program to a total of $200 million of common shares.
Shell Launches $3.5 Billion Share Buyback Program
2024-05-02 - Shell, which posted first-quarter adjusted earnings of $7.7 billion, will cancel all of the shares it buys.
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.