Around the industry
- Real Time oil and gas market prices - Bloomberg
- U.S. Energy Administration energy outlook for 2011 - visit website
- U.S. Energy Administration weekly update for natural gas prices - visit website
- U.S. Energy Administration weekly update for oil prices - visit website
The definitions of proved reserves are established by the Society of Petroleum Engineers (http://www.spe.org/index.php), the World Petroleum Council (http://www.world-petroleum.org/) , the American Association of Petroleum Geologists (http://www.aapg.org/), the American Petroleum Institute (http://www.api.org/), and the Society of Petroleum Evaluation Engineers ( http://www.spee.org/index.html). The Securities and Exchange Commission has its own set of definitions. though the only essential difference is that of holding prices constant (no increase based on estimated future conditions) but allowing escalation of prices based upon existing contracts, if any.
For more information regarding the generally accepted definitions please download the following document
SPE Oil and Gas Reserves Committee
Mapping Subcommittee Final Report (1.4mb)
