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A typical S-X well costs about $1 million and takes under 10 days to complete," Williamson said.
The company expects to drill 20 S-X wells this year, the first phase of a three-year, 60-well program.
Financial statement requirements under regulation S-B are similar to those under the old form S-18 in that the financial statements can be prepared in accordance with generally accepted accounting principles and are not required to comply with regulation S-X, which governs the form and content of financial statements otherwise filed with the SEC.
Clarify applicability of staff accounting bulletins, financial reporting requirements and regulation S-X reporting requirements.
GAAP or regulation S-X in the financial statements is broad.