Research On Value Correlation Of Oil And Gas Reserves Information

The exploitation of resources such as oil and natural gas is the main business of oil companies.For oil companies,the amount of oil and gas storage reflects the level of production development of the company to a certain extent.Oil and gas reserves play a prime role in the development of the company.And for investors,when it comes to determining their investment decisions,they will also refer to this indicator.However,at present there is no consensus on how domestic and international definitions of oil and gas reserve assets should be defined,and there is no agreement on the definition,measurement,and disclosure of oil and gas reserve assets at home and abroad.Therefore,this article mainly discusses the domestic and international regulations on the measurement and disclosure of oil and gas reserves.Through this analysis,it hopes to provide reference for the specification and improvement of oil and gas inventory accounting measurement.In this paper,the rules and theories of the disclosure of oil and gas reserves at home and abroad are firstly combinated,and the oil and gas reserves and values studied in this paper are defined,and the following research methods for correlation research are clarified.Then,this paper selects PetroChina,Sinopec,and CNOOC to use a least-squares method for pooled regression analysis,and then uses multivariate regression analysis on the three companies separately to discuss the correlation between oil and gas information disclosure and its stock value.From the results of pooled regression analysis,the stock price is significantly related to the quantity and value of reserves,and both have positive impact on the stock price,which means the stock price will increase with the increase in the scale of oil and gas assets,and the greater the accounting value of oil and gas assets,the higher the stock price.The correlation between the natural logarithm of the total asset's book value and the stock price at the beginning of the period is obvious.This shows that for oil and gas industry companies,there is a positive link between the total asset size of the company and the market value of the company.Judging from the results of multiple regressions for the three oil companies,the overall results are consistent with the regression results of the previous pooled data's.PetroChina's reserves have the most tight correlation with its stock value.Through the analysis of the results of the regression analysis of case data,this paper specifically points out that the disclosure of information on the quantity and value of oil and gas reserves has a greater impact on stock prices.Enterprise managers should pay attention to them,and the assessment and measurement of the fair value of oil and gas reserves assets is the trend of the times.