文档介绍：Economic Analysis and Reserves Value Evaluation(储量价值评估及经济分析)
ECONOMIC ANALYSIS AND RESERVES VALUATION
Uses of Reserves Valuation
SEC Reserves Value
Economic Calculations
Petroleum Fiscal Systems
WHY ARE ECONOMICS IMPORTANT??
Prosperity of pany directly depends on efficient use of its capital
Especially true in panies, where Assets are continually being Depleted
Primary job of E&P professionals is to mend most economically attractive projects to REPLACE RESERVES!
USES OF RESERVES VALUATION
VALUATION – provide management with economic worth of oil/gas reserves
VALUATION – necessary for preparing annual budgets – forecasting
VALUATION – necessary for long-range planning for all oil/panies
VALUATION – necessary for all corporate borrowing – collateralization of reserves
VALUATION – necessary for SEC filings
SEC Reserves Value
Determining the volumes proved reserves reportable under SEC guidelines.
Determination of economic producing limits
Reserves are NOT PROVED UNLESS ECONOMIC!!
Calculating the standardized measure of discounted cash flows as defined by SFAS No. 69.
SEC Reserves Guidelines
Proved Reserves Only.
Statement of Financial Accounting Standards No. 69.
Paragraphs 10-13, 15, 30a, and 30b.
Securities and mission.
Regulation S-X: Rule 4-10a (1)-(13).
Regulation S-K: Rule 302b.
Uses of Reserves Information Government Reporting and Shareholder Information
SEC
Form 10K - panies
Form 20F - Foreign panies
Pursuant to Section 12(b) of Securities and Exchange Act of 1934
Regulation S-X Rule 4-10
Regulation S-K Rule 302b
SEC Regulations
Regulation S-X Rule 4-10.
Financial accounting and reporting for oil and gas producing activities pursuant to federal securities laws.
Definitions.
Oil and gas producing activities
Proved reserves
Proved developed reserves
PUD reserves
Costs
SEC Reserves Guidelines
Comparative and consistent basis for all reserves estimates.
Therefore, the requirements of
Current prices and costs.
No escalation of prices or costs per