U.S. Rig Count is up 8 rigs from last week to 941, with oil rigs up 11 to 758, gas rigs down 3 to 183.

U.S. Rig Count is up 520 rigs from last year's count of 421, with oil rigs up 428, gas rigs up 93, and miscellaneous rigs down 1 to 0.


The U.S. Offshore Rig Count is unchanged from last week at 22 and up 1 rig year over year.

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Cost Depletion: A Valuable Tax Deduction for Royalty Owners

Posted by Patrick Flueckiger on February 12, 2018 at 10:30am 0 Comments



Background:
 The Internal Revenue Code allows a deduction known as “depletion” for oil & gas income. The depletion deduction could save a taxpayer thousands of dollars in income taxes. Since a mineral interest runs out…

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