Exchange Group
(know as "REGS")
Regulatory Data
Exchange Group
(know as "REGS")
REGS is a PIDX User Group comprised of
Petroleum Industry Companies and Government Agencies. Its purpose is to establish a forum
for creating US Regulatory Standard Electronic Data Interchange (EDI)
formats & seek Electronic Commerce solutions for reporting and communications between
the Petroleum Industry and Federal and State Regulatory Agencies. The REGS User Group was formed in 1990 by a group of Petroleum Industry and Minerals Management Service representatives. REGS operates under the direction of the Petroleum Data Industry Exchange (PIDX) and the American Petroleum Institute (API). Its membership is open to all interested petroleum industry and government participants. There are over 250 individual members from over 60 companies and 25 government agencies either actively participating in, or monitoring the work of the REGS group.
REGS is organized primarily into two subcommittees: The Well Operations Subcommittee addresses non-financial reporting to agencies such as
production, well test and well completion reporting. The Royalty Subcommittee addresses
royalty reporting and The REGS Team obtains technical support both from within REGS and the PIDX Standards Subcommittee. Technical support includes assist in the mapping of data elements and the creation of electronic data transaction sets. REGS holds at least two full subcommittee meetings but individual REGS Teams may meet more frequently to complete work assignments. Please check our REGS Calendar for next scheduled meeting. All Interested parties who are active in either the Petroleum Industry or Government State / Federal Regulatory Agencies are welcome to attend any of the meetings. |
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The purpose
of REGS is to facilitate exchanges of business information via electronic commerce between
the petroleum industry and government agencies using a standard format. This encompasses
all the regulatory reporting through the life of a well from drilling, production,sales,
including downstream environmental regulatory reporting. REGS is committed to work with
the Petroleum Industry Data Dictionary (PIDD) to develop common definitions of terms used
by the petroleum industry. REGS is also committed to the 
payment to government agencies. The Tax
Subcommittee handles tax reporting and electronic payments. The Environment Team addresses
the electronic data exchange of environmental compliance reporting. These three
subcommittees compile the data requirements necessary for various agencies, develop common
definitions and examine existing forms and procedures.