The number of active rigs in the US jumped by eight this week after falling by two last week, according to data from Houston-based services provider Baker Hughes.

The majority of gains were made by drillers targeting natural gas, who added six rigs overall for a total of 192 units. That is 196 more than in the same week a year ago.

Oil drillers also added two rigs for a total of 766, 392 more than a year ago.

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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



Owners of minerals and royalties may be interested to learn that the Internal Revenue Code "IRC" allows a deduction known as “depletion” for oil & gas income. The depletion deduction could significantly reduce a royalty owner's…

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