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Page 276
... drilling commitments in existence . An example would be a drilling commitment in connection with a wildcat property . The problem is how to treat the obligation on the one hand and value the interest on the other . If the commitment is ...
... drilling commitments in existence . An example would be a drilling commitment in connection with a wildcat property . The problem is how to treat the obligation on the one hand and value the interest on the other . If the commitment is ...
Page 391
... Drilling Co. cases is a good illustration of this beginning development at the time of G.C.M. 22730 . In this case , the drilling contractor had drilled various wells , some payable in cash and others payable out of future production ...
... Drilling Co. cases is a good illustration of this beginning development at the time of G.C.M. 22730 . In this case , the drilling contractor had drilled various wells , some payable in cash and others payable out of future production ...
Page 470
... Drilling Costs The Tax Court has allowed a deduction of intangible drilling costs where the taxpayers entered into turn - key contracts with an independent drilling contractor by which they acquired , for a fixed sum , fractional ...
... Drilling Costs The Tax Court has allowed a deduction of intangible drilling costs where the taxpayers entered into turn - key contracts with an independent drilling contractor by which they acquired , for a fixed sum , fractional ...
Contents
The Thirtieth Year of the Natural Gas Act and Its | 1 |
Title Examination and Division Orders | 29 |
Royalty Problems Incident to the Processing of Natural | 89 |
Copyright | |
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5th Cir agreement allocated amount applied assignment Bankline basis carried interest Comm'r Commission consolidated return contract Corp corporation decision deduction depreciation division order drilling economic interest effect error ref'd excess loss account exemption fact filed Hugoton industry interest owner investment involved land Legal Fdn lessee lessor Magnolia Petroleum Co market value ment mineral Natural Gas net profits interest Oil & Gas oil and gas operator opinion ordinary income overriding royalty ownership partnership party percent Petroleum Phillips Petroleum Co pipeline problem production payment profits interest holder provisions purchase question received recovery Regulations remainderman reserves result Revenue Ruling royalty interest rules Section securities service partner Simplot slant drilling Southwest Exploration Stanolind Subject Properties supra Supreme Court Tax Court taxable taxpayer Texas Texas Co tion tract transaction transfer trust instrument United wellhead