By Bill Nelson, Kristina Trauger, Judithe Little and Marc Folladori ( January 17, 2018, 1:11 PM EST) -- Comment letters to oil and natural gas exploration and production companies by the Division of Corporation Finance of the U.S. Securities and Exchange Commission indicated several major areas of concern for the division during 2017 regarding companies' disclosures. Many of the topics addressed were similar to those raised by the division's staff in 2015-2016, but some were new, such as the staff's focus on non-U.S. E&P companies' impairment testing under the International Financial Reporting Standards. While 2017 saw some improvement in global and U.S. commodity prices and increasing demand for oil and gas, most of the staff's top concerns remain relevant for E&P companies preparing their annual, quarterly and current reports to be filed in 2018, as well as other public communications relating to their operations and financial condition....