SEC

Large NAFTA Trucking Firm, Facing SEC Investigation, says $200-$250M Income Discrepancy Reported for Recent Years

April 4, 2018

‘Sale’ of used equipment was actually leased equipment From CCJ One of the country’s largest trucking firms has notified its shareholders that its reported profit for the prior four fiscal years could be as much as $250 million less than previous financial documents showed. Celadon Group said Tuesday that it will reissue financial documents for fiscal years 2014, 2015, 2016 and 2017

Netherland, Sewell & Associates, Inc. Provides Petroleum Consulting Services Worldwide

February 13, 2018

Netherland, Sewell & Associates, Inc. (NSAI) is a worldwide leader of petroleum property valuations for the industry, financial organizations and government agencies. NSAI delivers high quality, fully integrated engineering, operational, geological, geophysical, petrophysical and economic solutions for all facets of the upstream energy industry. The company was established in 1961 and has offices in Dallas and Houston, with more than

SEC Announces New Rules on Resource Extraction Payments

June 29, 2016

On June 27, 2016, the Securities and Exchange Commission (SEC) announced its adoption of rules which will require resource extraction issuers to disclose payments that are not de minimis made to governments for the commercial development of oil, natural gas, or minerals. This includes payments made to the United States federal government as well as foreign governments. The disclosures will

SEC Reserves Price Deck Down 48% for 2016

December 8, 2015

Low oil prices bring SEC price deck down to $50.13 With the end of 2015 quickly approaching, and companies preparing for a lower Securities Exchange Commission (SEC) price deck for reserves reporting, proved reserves for oil and gas companies are likely to diminish significantly in the near future. The dramatic decrease in oil prices since November of last year has

What does the U.S. Government Expect from Energy Companies in 2016?

November 12, 2015

Just doing things right may not be enough: legal experts discuss changes to SEC reporting expectations for energy companies and recent trends in EPA investigations and enforcement actions Haynes and Boone LLP’s Denver office hosted a seminar this week that featured a slate of high-powered presenters, some of whom had spent years as attorneys at the SEC and EPA before joining Haynes and

Oil & Gas 360 - Haynes & Boone Borrowing Base Redeterminations Survey

What will the New SEC Price Deck Mean for Reserves?

September 25, 2015

Every year, oil and gas companies are required by the Securities Exchange Commission (SEC) to report their proved oil and gas reserves. By reporting these reserves, companies give their investors a meaningful understanding of the resources the company controls that it believes it could economically produce, establishing the size of the company’s reserves. To qualify under SEC guidelines as “proved