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NSWA Releases Percentage Depletion Study

NSWA Releases Percentage Depletion Study

IHS Report: Removal of the percentage depletion tax provision has unintended consequences for U.S. economy, small energy producers and royalty owners

National Stripper Well Association Chairman Mike Cantrell said removing the percentage depletion deduction from the tax code would have unintended consequences for the nation’s economy by harming domestic energy small businesses and royalty owners.

Eliminating the percentage depletion tax provision for U.S. oil and gas producers would cut into economic growth, cost jobs and labor income, and cost the federal government a net $2.5 billion in tax revenue by 2025, and another $1.1 billion in royalty revenue from oil and gas produced on federal land, according to an economic impact assessment released today by the National Stripper Well Association (NSWA). The assessment was produced for NSWA by IHS, a leading global source of critical information and insight.

Percentage depletion is a tax provision used by oil and natural gas producers that allows them to recoup some of the costs involved in exploring for and developing fossil fuel sources.

Over the next decade (2015-2025), the economic impact of eliminating the percentage depletion deduction from the tax code would cost the United States economy $184.5 billion in gross value-added, an average of 178,000 jobs per year and $115 billion in earned labor income, the report said. More


 
For Download

Please feel free to download and use the following informational pieces:

NSWA Media Release | 01.15.2015

Slide Presentation from IHS

Infographic


Thank you to all our percentage depletion study sponsors. We could not have done it with out you.

 
Percentage Depletion Calculators

If you STILL don't know exactly what percentage depletion means to you, download one of our Percentage Depletion Calculators and take it to your accountant.

NSWA Percentage Depletion Worksheet

Percentage Depletion vs. Cost Depletion Calculator (property by property basis)

 
NSWA hires VP of Governmental and Regulatory Affairs

NSWA hires VP of Governmental and Regulatory AffairsThe National Stripper Well Association (NSWA), the only national oil and gas trade association representing solely the interest of America’s smallest marginal oil and gas producers in the  United States, announced today that Tim Charters is joining the association in the newly created position of Vice President of Governmental and Regulatory Affairs. Charters will work alongside the current governmental affairs team headed by former United States Congressman Bill Brewster to direct a comprehensive governmental relations and regulatory affairs strategy for NSWA from an association office in Washington, DC. The new full time position is in response to a call from NSWA membership to beef up staff and establish a better NSWA presence on Capitol Hill, to represent the rights and best interests of the over 18,000 small business men and women in America’s energy industry. Read More