SPE Online Education
Module 1: SEC Reserves Definitions
Recorded On: 03/01/2018
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.
To purchase this course as part of the series, go to: SEC Reserves Reporting Regulations Series.
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.
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