Disclosure for oil and gas operations: reliability and relevance

Journal Article · Fri Mar 01 04:00:00 EST 1985 · Oil Gas Tax Q.; (United States)

OSTI ID:5878238

Stocks, K D; Wright, C

An oil and gas firm's principal asset is its inventory of oil and gas reserves. Costs of acquiring this inventory are incurred principally before any revenues can be generated from production of the reserves. Additionally, large expenditures can be made on projects which result in no incremental reserve inventory. This difference in the timing of costs and revenues has led to an ongoing search for financial accounting and disclosure techniques which provide useful information for investors and analysts. The most recent attempt to establish a set of useful disclosure statements was made by the Financial Accounting Standards Board (FASB). In November 1982, the FASB issued Statement No. 69, Disclosures About Oil and Gas Producing Activities. The purpose of this article is to examine the disclosure requirements of Statement No. 69 in terms of the usefulness of the information provided. 6 references.

• Research Organization: Brigham Young Univ., Provo, UT
• OSTI ID: 5878238
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 33:3; ISSN OGTQD
• 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
INDUSTRY
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY
RESERVES
RESOURCES
STANDARDS