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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)

 
IOGCC Marginal Well Report Now Available!

Click here to download

2012 Marginal Well Report
For nearly 80 years, the Interstate Oil and Gas Compact Commission (IOGCC) has championed the preservation of this countryís low-volume, marginal wells and documented their production. The IOGCC recognizes that it goes to the heart of conservation values to do all that is possible to productively recover the scarce oil and natural gas resources marginal wells produce.

In addition to supplying much-needed energy, marginal wells are important to communities across the country, providing jobs and driving economic activity. Today, as the nation ponders the solution to its energy challenges, the commission continues to tell the story of how tiny producing wells can collectively contribute to a sound energy and economic future.

 
What is percentage depletion?

United States Tax Code Sections 611, 613, 613A

This is a 15% deduction allowance against taxable income utilized by independent producers and royalty owners. Itís limited to the first 1,000 barrels/day of production. Congress eliminated percentage depletion for major oil companies more than 30 years ago.

Why itís important: Percentage depletion has been available to independent producers since 1954 as an incentive to stimulate continued investment in a high-risk industry. It provides the capital and outside investment small producers need to maintain marginal wells. These wells make up 20% of our production.

More information

 
Houston M&M Luncheon October 30

Please join us at the Houston Petroleum Club, Thursday, October 30 for the NSWA's Meet and Mingle Luncheon.

Guest speakers will be NSWA Chairman and longtime Oklahoma oilman Mike Cantrell, and former United States Congressman Bill Brewster. Topics of discussion will be NSWA's current engagement in the battle to keep the percentage depletion allowance through the tax reform process, and the continued growth of the organization.

The luncheon is hosted by NSWA Executive Board Member J.E. Taylor, Taylor Energy Services, LLC of Houston, along with Jeff Caperton, Magellan Land Services, Inc.; and Greg Hudson, Cozen O'Connor.

To RSVP, please call Jamie at (405) 228-4112, or email jwhitefield@nswa.us.

Download a printable invite here.

We will see you in Houston!

 

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