As energy costs have risen in recent years, so too have the number of issues that can ensnare eager but unsuspecting investors or plague companies attempting to honor agreements. In this article Mr. Matthews briefly explains oil and natural gas royalties, describes methods for identifying potential royalty calculation errors and identifies common pit falls.

Issues in Gas and Oil Royalty Disputes: Ensuring Accurate Royalty Determination and Payment. Matthews, Jeffrey G., Spring 2012, pp. 1‑21.

The International Accounting Standards Board's (IASB's) efforts to formulate and release a comprehensive standard for extractive industries seems to have been put on hiatus. This paper examines the history of the full cost versus successful efforts accounting debate in the U.S. and compares and applies that history to the IASB's current situation.

Has International Oil and Gas Accounting Been Politicized? Nichols, Linda M., Spring 2012, pp. 22‑34.

This article addresses producer contractual and economic considerations and SEC rules and regulations pertaining to the definition of oil and gas reserves and reportable quantities of natural gas liquids reserves.

Reportable Quantities of Natural Gas Liquid Reserves. Sparger, John Robert, Spring 2012, pp. 35‑56.

Using a sample from the 1993-2007 period, the authors provide evidence consistent with a market premium for firms that report a positive reserve quantity revision.

The Market Implications of Earnings and Reserve Surprises. Costabile, Marc; Soltys, Sharon; and Spear, Nasser, Spring 2012, pp. 57‑76.

This article presents a broad discussion of risk management as a process and the steps that should be taken, on a continuous basis, to effectively manage risk.

The Process of Risk Management: Important Steps to Take. Harvey, George E., Spring 2012, pp. 77‑86.