Supplemental Oil & Gas Disclosures (SMOG)

The Supplemental Oil & Gas Disclosures are a reconciliation of the year-over-year changes in reserve reports. Although, “unaudited” SMOG is required by the Accounting Standards Codification and is among the most highly scrutinized disclosures by the SEC and external audit firms. Opportune is a thought leader in this area and has developed a methodology recognized and relied upon by the large accounting firms.

Our engagement services include:

  • Reviews of reserve reports
  • Calculation preparations
  • Assimilations of disclosures
  • Walkthroughs of process and audit evidence with the external auditors
  • Monitoring SEC comment letters to ensure all calculations meet current requirements