Information content of oil and gas reserve disclosures

Thesis/Dissertation · Sun Jan 01 04:00:00 EST 1984

OSTI ID:5836829

Hussain, I

This empirical study is concerned with whether the oil and gas reserve value data reported by the oil and gas iundustry in their Form 10-K filings has any information content for the investors. These reserve disclosures were adopted by the Securities and Exchange Commission (SEC) as a first step towards developing Reserve Recognition Accounting (RRA). Although SEC has now scrapped the idea of use of RRA in primary finanical statements, similar disclosures are still required and are specified in Financial Accounting Standards Board Statement No. 69, Disclosures about Oil and Gas Producing Activities. This dissertation assumes capital market efficiency and addresses a specific question. Do the reserve value disclosures required by SEC have any information content. Information content of these disclosures are judged by their impact of the trading activity of the stock of the firm providing such disclosures. An absence of any significant change in the level of activity, either in price (and therefore returns) and/or volume, would suggest that the disclosures do not have any information content.

• OSTI ID: 5836829
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020100* -- Petroleum-- Reserves-- (-1989)
03 NATURAL GAS
030100 -- Natural Gas-- Reserves-- (-1989)
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ACCOUNTING
DATA ANALYSIS
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INFORMATION VALIDATION
NATURAL GAS
PETROLEUM
RESERVES
RESOURCE ASSESSMENT
RESOURCES
TESTING
VALIDATION