Tax Advantages FAQ 2017-10-11T12:30:35+00:00

THE MOST FREQUENTLY ASKED QUESTION. . . AND ANSWERS REGARDING TAX BENEFITS OF OIL AND GAS DRILLING PROGRAMS

What type of information do you receive from John Henry Petroleum to show you how to claim your tax deductions from investing in our drilling programs?
What IRS tax code determines if your investment in our drilling programs is tax deductible?
Can individuals reduce their income from other sources with deductions generated by our ventures that own oil and gas working interests?
What are some of the tax deductions from our oil and gas drilling programs?
What other deductions are generated by our oil and gas drilling ventures?
What are Intangible Drilling Costs (IDC)?
How do Intangible Drilling Costs (IDC) produce tax benefits for our ventures?
Can I deduct depreciation on tangible items purchased to equip an oil or gas well?
What is “depletion” and how does it reduce or defer a venturer’s taxes?
What is the difference between cost depletion and percentage depletion?

 

  • Oklahoma's SCOOP and STACK oil plays ... Some of the best rock seen anywhere!

    Traveling through Oklahoma’s stratigraphy, one can stumble over as many as 7,500 formations. “Most have names; in some cases, several,” the Oklahoma Geological Survey explains in an oil and gas FAQ page. The abundance of nomenclature is the result of many factors, the OGS adds, including simply that, at times, “geologists may disagree.”

    The state also hosts more than 3,000 field designations. To simplify, strat-trippers can cheat down to the 300 formations that have had 10 or more well completions. Among them is the Woodford Shale, which Newfield Exploration Co. proved commercial from fracked horizontals beginning in 2005 where the pay is gassy in the Arkoma Basin of southeastern Oklahoma. Read the full article at here at oilandgasinvestors.com