Additional Disclosure Rules for Oil and Gas DPPs
At the end of each fiscal year, an oil and gas DPP must disclose its oil and gas reserves to its investors. This information must be broken down in three ways:
• by exploratory/developmental status: proved developed and undeveloped reserves and sometimes probable reserves
• by product type: oil, natural gas, synthetic oil and gas
• by geography, if the DPP operates internationally
This disclosure at the end of the fiscal year must also include a discussion of how proved undeveloped reserves changed during the year, how much of these were converted into proved developed reserves, and what pr