Event Detail

Share this Event:

Add to your calendar: VCalendar | Google

**SOLD OUT** Course: Oil and Gas Tax Fundamentals 2017

  • Dates: 26 – 26 Jun, 2017
This course is sold out. 

Monday, June 26, 2017, 8:30 am - 4:30 pm, at the Fort Worth Chapter Training Facility

This course is the first day of a three day series of seminars on oil and gas tax. Go back to the Oil and Gas Tax page with your browser to read about course offerings June 27 and 28.. You can register for one or multiple days of the series.

Learning Objectives: 
This course will cover the fundamental concepts of income taxation of the oil and gas industry with a primary emphasis on the oil and gas producer. 

The treatment of costs incurred in the exploration, acquisition, development and production of oil and gas will be covered. Objectives: 

  • to gain an understanding of the upstream operations of the oil and gas industry and to understand the nomenclature used to describe oil and gas mineral interests and their economic characteristics;
  • to understand the basic conveyancing transactions common in the oil and gas industry and to understand the tax implications arising from those conveyances;
  • to identify and determine the proper tax treatment for geological and geophysical expenditures;
  • to compute depreciation on lease and well equipment under MACRS rules or the units of production method;
  • to identify intangible drilling and development costs (IDCs) and to understand the requirements that must be met in order to take a current deduction for IDCs.

Instructional Method: Group-Live
John Tripp, professor of taxation at the University of Denver, with teaching responsibilities in the Graduate Tax Program and the School of Accountancy will lecture from an outline.

Prerequisites/Advance Preparation:
General understanding of federal income taxation.

Included in Your Registration:
Digital materials (may be downloaded in advanced or used online; free wifi in the classroom); lunch; sodas, coffee and water.

Level:  Basic.

Hours and Field of Study: 
8 hours in the taxes field of study CPE. Fort Worth Chapter is registered with the National Association of State Boards of Accountancy.

For information regarding this course, please contact cpeinfo@fortworthcpa.org

For information about refund and cancellation policies, and details about Fort Worth Chapter's authority to offer CPE, please click this link.