Tax incentives for the tertiary oil operator
Conference
·
· Kansas Univ. Tertiary Oil Recovery Project Contrib.; (United States)
OSTI ID:6143461
There are 3 basic tax incentives for the tertiary oil operator. First of all, under the Crude Oil Windfall Profit Tax Act of 1980, tertiary operators are now allowed to deduct tertiary injectants, one of which is a deduction for income tax purposes. Under the percentage depletion rules, tertiary operators are given certain rate and quantity advantages that are not otherwise allowable to oil and gas producers. This work examines the deduction for tertiary injectants. Prior to the passage of the Windfall Profit Tax Act, these expenditures were required to be capitalized and depreciated over the life of the project for income tax purposes. IRC Section 193 now allows certain qualified tertiary injectants to be deducted front end. The study also reviews the percentage depletion incentives under IRC Section 613A.
- OSTI ID:
- 6143461
- Conference Information:
- Journal Name: Kansas Univ. Tertiary Oil Recovery Project Contrib.; (United States) Journal Volume: 6
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
02 PETROLEUM
020300* -- Petroleum-- Drilling & Production
021000 -- Petroleum-- Legislation & Regulations
DEPLETION ALLOWANCES
DISPLACEMENT FLUIDS
ENERGY SOURCES
ENHANCED RECOVERY
FINANCIAL INCENTIVES
FLUIDS
FOSSIL FUELS
FUELS
INDUSTRY
INJECTION WELLS
NATURAL GAS INDUSTRY
OIL WELLS
PETROLEUM
PETROLEUM INDUSTRY
RECOVERY
STIMULATION
TAX CREDITS
TAXES
WELL STIMULATION
WELLS
WINDFALL PROFITS TAX
020300* -- Petroleum-- Drilling & Production
021000 -- Petroleum-- Legislation & Regulations
DEPLETION ALLOWANCES
DISPLACEMENT FLUIDS
ENERGY SOURCES
ENHANCED RECOVERY
FINANCIAL INCENTIVES
FLUIDS
FOSSIL FUELS
FUELS
INDUSTRY
INJECTION WELLS
NATURAL GAS INDUSTRY
OIL WELLS
PETROLEUM
PETROLEUM INDUSTRY
RECOVERY
STIMULATION
TAX CREDITS
TAXES
WELL STIMULATION
WELLS
WINDFALL PROFITS TAX