The Importance of Third-Party Data Quality Validiation

Editor’s Note:  CRE is not in a position to opine on the accuracy of the estimates provided by Royal Dutch Shell to a US regulatory agency. However it should be noted that the Data Quality Act precludes any agency from using data submitted by a third party which is not DQA compliant.  Major US firms routinely utilize the services of third-party validators to substantiate the  accuracy of  their financial information and they should consider doing the same for information submitted to regulatory agencies.


Cairn Energy outlines exploration plans for 2014

From: Oil & Gas Journal

With a formal announcement of its 2013 drilling results scheduled for March, Cairn Energy PLC says it plans to drill nine wells this year. According to the company, its 2014 exploration program will be conducted across a mix of frontier and mature basins.

The company operated JM-I exploration well is in the Juby Maritime III Block offshore Morocco. This multiwell drilling program began in October 2013 (OGJ Online, Oct. 28, 2013).