News

Net Operating Loss (NOL) Provisions CARES Act

The CARES Act implemented numerous changes regarding Net Operating Losses. It allows for a 5 year carry back. The effective date for this change means the change applies to the ... Read More ...

CARES Act Money Bookmarked for Oil & Gas

17 GOP senators are urging The Honorable Steven Mnuchin, Secretary of the Treasury, to ensure some of the $500 billion in Treasury loans from the CARES Act goes to oil ... Read More ...

Washington Works to Solve Historically Low Oil Prices

Aindriu Colgan | NSWA Vice President, Governmental Affairs President Trump Meets with Oil Executives President Trump met Friday with the head of the American Petroleum Institute (API), Continental Resources founder ... Read More ...

Emergency Paid Leave Programs

On April 1, the U.S. Department of Labor (DOL) announced new action regarding how “American workers and employers will benefit from the protections and relief” offered by the Emergency Paid ... Read More ...

Chaos and scrambling in the US oil patch as prices plummet

Cathy Bussewtiz | AP News NEW YORK (AP) — In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an ... Read More ...

2020 VISION: Fueled by a price war and a virus pandemic, the oil business is in crisis

Bruce Campbell | Enid News & Eagle  In the midst of what could be the biggest crisis ever in the oil industry, coronavirus COVID-19 is playing a starring role. Earlier ... Read More ...

New Paid Leave Requirement

Starting April 1, 2020, businesses with fewer than 500 employees will need to provide employees with paid time off for a variety of reasons relating to the COVID-19 pandemic. This is in ... Read More ...

Employee Retention Credit

The Treasury Department’s Employee Retention Credit program launched this week. The program is designed to encourage businesses that don’t qualify for the SBA’s Payment Protection Program to keep employees on ... Read More ...

CARES Act: Shumaker Legal & Legislative Summary

The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act has passed the Senate, the House, and has been signed into law by the President on March 27, 2020. The Act ... Read More ...

Monthly Lease Analysis Spreadsheet

This monthly lease analysis is a helpful tool that can be adapted for each owner to project income & expense for each lease at the beginning of the month.  Download ... Read More ...

Oil Pain Spreads Beyond Permian to Small Towns Across America

(Bloomberg) — The oil market turmoil sparked by Saudi Arabia and Russia is threatening U.S. jobs even in Cut Bank, Montana, and Magnolia, Arkansas — relatively obscure communities in the ... Read More ...

President Signs Third Coronavirus Relief Bill

Aindriu Colgan | NSWA Vice President, Governmental Affairs   Last week,  President Trump officially signed the Coronavirus Aid, Relief, and Economic Security (CARES) Act (Public Law 116-136) into law, following passage by the House earlier in ... Read More ...