Jim Van Blaricum - The Opportunities of Two-Year Inactive Severance Tax Incentive Continue

The Two-Year Inactive... more

Jim Van Blaricum - The Opportunities of Two-Year Inactive Severance Tax Incentive Continue

The Two-Year Inactive Well Incentive program, extended by the 76th legislature in September 1999, remains a valuable opportunity for operators of inactive wells to return the wells to production with a ten-year severance tax exemption on crude oil, casinghead gas, and gas well gas produced by the reactivated wells. The filing deadline for this severance tax incentive program was extended to August 31, 2009. The Railroad Commission can certify wells for the program through February 28, 2010. Any gas well or oil well with no more than one month of production in the two-year period prior to application to the Commission for certification can be eligible. Jim Van Blaricum

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