Matthew R Simmons, Chairman of Simmons & Co. International (SCI), the world's foremost energy banker. Simmons is very concerned that existing oil and gas reserves may prove insufficient to meet future demand and therefore precipitate an energy crisis that would severely disrupt the American way of life. He believes exploration and reporting practices of the Oil and Gas industry tend to obscure rather clarify the the extext of reserves and quality of fields. He is promoting The 13 Points of Light - new disclosure standards for the oil and gas industry that would provide information that could be used to better understand the extent of reserves. His aim is to prompt the larger players to disclose information so that industiral civilization will be able to make educated choices about how it consumes the remaining Oil and Gas in the ground.
"The era of trust me is baloney"
"If we need a Plan B, it would sure be nice to know that with a little bit of advance warning"
"[The situation of Natural gas in the United States] is simply awful; we're in decline... We don't have any solution"
| The 13 Points of Light I am promoting some new disclosure standards for oil and gas producers of any significant size called the "13 Points of Light." What this entails is for all significant oil producers (actually oil and gas) to have to break out 13 data points for any producing field that accounts for 10% or more of total production. The 13 pieces of data are five years history of actual production and the average number of producing wells by field (a total of ten pieces of data) plus three estimates of the reserves in the field. The updated estimate of the Original Oil in Place, the updated estimate of ultimate recoverable reserves and the updated cumulative production of the field. These simple 13 points, which any serious oil producer has at their fingertip, can finally allow analysts to genuinely analyze the quality of the field and how far along the productive life an individual producer really is. While there are various other data items it would also be nice to know, these 13 simple points would go a long way to uncovering that we have no big supply concerns Or to expose how fragile the global supplies really are. I am convinced that a big push by various "interested parties" can force this new disclosure standard for all publicly traded companies and then govt.s need to force the same standard on all national oil companies, including all OPEC producers Matt Simmons |
Other Resources
Simmons & Company International Site Research and Speeches
Presentation from the Reserve Reporting Conference,
April 14, 2004
Will
The Proved Reserve Scandal Open The Door To Genuine Data Reform? (Printer
Friendly)
Take a peek: Slide
41: It's Time for a Solid, Accurate Annual Report describes the 13
Points
Take a peek: Slide
42: 13 Point Plan: Simple, Available, Analyzable shows an example
Response to Matt's comments at
Feb 24, 2004 Meeting at CSIS
Oil
executives : Saudis can meet world’s needs
The Lafayette Daily Advertiser, United States - Apr 5, 2004 ... The debate
began after Matthew Simmons, an investment banker specializing in energy,
warned earlier this year that Saudi Aramco treats cutting-edge techniques
...
Shell scandal points to exaggerated estimates
of oil reserves
Daily Star, Lebanon - Apr 16, 2004 ... when it was challenged by Matthew
Simmons, a US ... He questioned whether Saudi Arabia's stated oil reserves
... Aramco, the kingdom's state-owned oil giant, insisted ...
New
study raises doubts about Saudi oil reserves
IAGS Energy Security - Mar 31, 2004 ... study soon to be released, Matthew
R. Simmons ... According to Simmons, Ghawar's northern regions are almost
... Saudi Aramco officials flew especially to Washington to ...
Is the end of oil reserves near? Opinions
vary
Scripps Howard News Service - Apr 7, 2004 ... Matthew Simmons - chairman
of the Houston energy research and investment banking firm Simmons &
Company International ... But Aramco, the Saudi national oil ...
ANALYSIS-Murky OPEC data muddies oil reserves
debate
Forbes - Apr 5, 2004 ... when analyst Matthew Simmons questioned whether
the kingdom's reserves were really as big as it said. The charges stung
state oil company Saudi Aramco into a ...
Oil Shortage?
BusinessWeek - Mar 28, 2004 ... questioned -- with some observers wondering
if Aramco is too ... Since it's widely assumed that Saudi Arabia controls
... The most vocal skeptic is Matthew R. Simmons ...
