As if oil and gas companies didn't have enough to worry about. With West Texas intermediate crude sinking to $42.50 (U.S.) Wednesday and going who knows where, Canadian energy executives are preoccupied with cutting costs, rejigging capital expenditures and deciding whether to irk investors by slashing dividends. The last thing they want to deal with are more rules to continually disclose more details about their financial affairs.
But that's just what regulators are demanding. From third-party-related transactions to more stringent guidelines on how to describe prospective resources, energy companies are being asked to spit out more numbers and more accurately describe and harmonize just how they get at those numbers.
Lexpert contributor Anthony Davis reports on increased regulatory pressure from energy regulators at www.lexpert.ca