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SEC Final Rule: Modernization of Oil and Gas …

Conforming Version (To Conform to Release Published in the Federal Register) SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 210, 211, 229, and 249 [Release Nos. 33-8995; 34-59192; FR-78; File No. S7-15-08] RIN 3235-AK00 Modernization OF OIL AND GAS REPORTING AGENCY: Securities and Exchange Commission. ACTION: Final rule; interpretation; request for comment on Paperwork Reduction Act burden estimates. SUMMARY: The Commission is adopting revisions to its oil and gas reporting disclosures which exist in their current form in Regulation S-K and Regulation S-X under the Securities Act of 1933 and the Securities Exchange Act of 1934, as well as Industry Guide 2. The revisions are intended to provide investors with a more meaningful and comprehensive understanding of oil and gas reserves, which should help investors evaluate the relative value of oil and gas companies. In the three decades that have passed since adoption of these disclosure items, there have been significant changes in the oil and gas industry.

XIII. Final Regulatory Flexibility Analysis A. Reasons for, and Objectives of, the New Rules and Amendments B. Significant Issues Raised by Commenters

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