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Oil Depletion Allowance - IRS Tax Treatment

https://www.arescotx.com/about-aresco... Oil and Gas Depletion Allowance – Shelter 15% of the well’s annual production from income tax Once an oil or gas well is in production, the working interest owners in the well are allowed to shelter some of the gross income derived from the sale of the oil and/or gas through a depletion deduction. Two types of depletion are available, cost and statutory (also referred to as percentage depletion). Cost depletion is calculated on the relationship between current production as a percentage of total recoverable reserves. Statutory or percentage depletion is subject to several qualifications and limitations. This deduction will generally shelter 15% of the well’s annual production from income tax. Get more information about our current oil and gas exploration and development opportunities here: https://www.txoilinvestments.com/. In addition to the "depletion allowance," please see our video on "Intangible Drilling Costs."    • Intangible Drilling Costs Tax Treatment