06 Dec, 23

SEC Focused on Asset Retirement Obligations

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The Securities and Exchange Commission (SEC) considers carefully what it says in public, so when its senior petroleum engineer makes a rare appearance in Houston to talk with oil reserves engineers – even not as an official spokesperson – his comments merit attention.  The message boils down to this: Abandonment costs have now become “a focus area for the SEC.” More to the point, disclosures must include all asset retirement obligations (AROs) reported as both discounted and undiscounted figures. (To be clear, the discussion…

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