CATEGORIZED | News

IADC backs industry fight against tax increases

Posted on 07 April 2009

Some areas of impact would be:

  • • Intangible drilling and development costs.
  • • Percentage depletion.
  • • Geological and geophysical amortization.
  • • Marginal well tax credit.
  • • Enhanced oil recovery tax credit.
  • • Manufacturing tax deduction.
  • • Excise tax on Gulf of Mexico production.
  • • Passive loss exception for working interests in oil and gas properties.

IADC is cooperating with industry grassroots programs designed to encourage greater involvement and higher visibility of the issues, as well as one-on-one relationships with congressional representatives. The association has signed on to related testimony and continues to participate in the IPAA legislative alert system, which generates letters to individual members of congress. IADC and IPAA have shared database information for the alert system since its inception.

For more information, contact Brian Petty, IADC senior vice president – government affairs at +1/202-293-0670 or by e-mail.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 27 January 2015

    Hess Corp announces 2015 capital, exploratory budget

    Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...

  • 26 January 2015

    Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry

    The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...

  • 22 January 2015

    Tullow Oil moves ahead with exploration, appraisal drilling onshore Kenya

    Tullow Oil has announced updates on several onshore projects in Kenya, including the Expir-1 exploration, Engomo-1 exploration, the Ngamia and Amosing...

  • 22 January 2015

    Petrobras reduces operating costs, time with new pre-salt subsea equipment deployment technique

    At the end of last year, Petrobras deployed its first wet Christmas tree using cables in the pre-salt area. The main change involved was the use of a subsea equipment...

  • 22 January 2015

    XACT, BP complete first deepwater deployment of SandSentry Acoustic Telemetry Network in Gulf of Mexico

    XACT Downhole Telemetry, in conjunction with BP, recently completed the first operational field trial of the SandSentry Acoustic Telemetry Network in the deepwater Gulf of Mexico...

  • Read more news