PT Study Group - “You Wanted Change, and You Got It: The New SEC Reserves Definitions”

Speaker Stuart L. Filler
Sr. Staff Reservoir Engineer Southwestern Energy Stuart L. Filler has over 29 years experience in petroleum and reservoir engineering. After service as an Infantryman in the U.S. Army, he served as an engineer trainee with Sedco in the North Sea. Stuart then embarked on his reservoir engineering career, working both ...

Sr. Staff Reservoir Engineer
Southwestern Energy
Stuart L. Filler has over 29 years experience in petroleum and reservoir engineering. After service as an Infantryman in the U.S. Army, he served as an engineer trainee with Sedco in the North Sea. Stuart then embarked on his reservoir engineering career, working both with consulting firms and operating companies. Stuart recently retired from Devon Energy Corporation, where he was a reservoir engineer working deep water Gulf of Mexico projects and Senior Advisor – Corporate Reserves ensuring compliance with SEC definitions and guidelines for reserves in financial reports to the SEC. His final position with Devon was Commercial Evaluation Supervisor, where he prepared economic standards for the corporation, evaluated major projects, and was responsible for the maintenance of the exploration portfolio. He currently works as a senior staff reservoir engineer for Southwestern Energy Company in the New Ventures group. Stuart holds a Bachelor of Science degree from Texas A&M University and a Master of Science degree from the University of Houston – University Park, both in Petroleum Engineering. He completed course work and passed examinations for a Ph.D. degree in petroleum engineering at the University of Texas at Austin. He is a licensed professional engineer in the State of Texas.

Full Description
 “You Wanted Change, and You Got It: The New SEC Reserves Definitions”

After 30 years of Regulation S-X and FASB 69, the SEC finally agreed that change to reserves definitions for financial disclosures was warranted. With the capable guidance of the Academic Fellow, Dr. W. John Lee of Texas A&M University, the SEC issued sweeping changes to the reserves definitions and disclosure rules in December 2008. The Financial Accounting Standards Board issued its exposure draft (“Extractive Industries – Oil and Gas (Topic 932)) on September 15, 2009, supporting the changes implemented by the SEC. The new definitions do not restrict reporting to only proved reserves and, in some cases, require much more detailed disclosure of oil and gas volume and reserves information. Stuart Filler will discuss the major changes and the possible impacts as these new definitions are implemented for the year end 2009 financial disclosures.

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Organizer Lilly Lee

When?

Tue, Nov. 10, 2009
11:30 a.m. - 12:30 p.m. US/Central

How Much?

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Where?

Brookhollow Sheraton Hotel Hwy 290 & I 610 W
3000 North Loop West
Houston, TX 77092

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