Qualifying tertiary recovery projects under the WPT Act

Journal Article · Mon Feb 02 04:00:00 EST 1981 · Oil Gas J.; (United States)

OSTI ID:6070892

Sullivan, B R

One area of the crude oil Windfall Profits Tax Act of 1980, qualified tertiary oil recovery projects, is discussed. The Tax Act provides for the lowest tax rate of 30% on tertiary oil. A discussion of the incremental terriary oil portion of the Tax Act (26 USC 4993) is followed by different ways of qualifying a project, the Texas Railroad Commission's experience in handling these projects, and some recommendations and a checklist for preparing cases. Projects which may qualify include (1) miscible fluid displacement, (2) steam drive injection, (3) microemulsion flooding, (4) in situ combustion, (5) polymer augmented waterflooding, (6) cyclic steam injection, (7) alkaline flooding, (8) carbonate waterflooding, (9) immiscible carbon dioxide displacement, and (10) any other method approved by the Secretary of Internal Revenue Service.

• OSTI ID: 6070892
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 79:5; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
CARBON DIOXIDE INJECTION
CHEMICAL REACTIONS
COMBUSTION
ENERGY SOURCES
ENHANCED RECOVERY
FLUID INJECTION
FOSSIL FUELS
FUELS
IN-SITU COMBUSTION
IN-SITU PROCESSING
MISCIBLE-PHASE DISPLACEMENT
OXIDATION
PETROLEUM
POLYMERS
PROCESSING
RECOVERY
REGULATIONS
STEAM INJECTION
TAX CREDITS
TAXES
THERMAL RECOVERY
THERMOCHEMICAL PROCESSES
WATERFLOODING
WINDFALL PROFITS TAX