The most recent version of the "Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information" (the Standards) was approved by the SPE Board contemporaneously with the release of the March 2007 SPE/WPC/AAPG/SPEE Petroleum Resources Management System (PRMS). This represents the first significant revision of the Standards since their issuance by SPE in 1977. A few minor changes were made to the Standards in 2001 but only as necessary to achieve conformance with the 1997 SPE/WPC Reserves Definitions. The 2007 Standards incorporate revisions targeted to elevate the qualifications of evaluators and auditors along with clarifying several previously undefined terms and conditions. A copy can be obtained through www.spe.org.

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