One way is to understand costs and revisions related to retiring assets.
Learn from Baker Tilly's Jonathan Jones as he discusses drill project costs, estimating present and future well values and asset retirement obligations.
This segment was originally presented during the 2021 Oil and Natural Gas Accounting and Tax Seminar. The seminar covered tax reform as well as various federal, state and local tax updates. It was presented in collaboration with Gas & Oil Association of West Virginia, Pennsylvania Independent Oil & Gas Association and Southeastern Ohio Oil & Gas Association.
For more information on this topic, contact our team.
The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Tax information, if any, contained in this communication was not intended or written to be used by any person for the purpose of avoiding penalties, nor should such information be construed as an opinion upon which any person may rely. The intended recipients of this communication and any attachments are not subject to any limitation on the disclosure of the tax treatment or tax structure of any transaction or matter that is the subject of this communication and any attachments.