About this event

Speaker Dr. John Tripp, Daniels College of Business, Graduate Tax Program, University of Denver

Fee $320 members, $410 nonmembers

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.

Delivery Method Group live

Hours and field of study 8 hours CPE credit awarded for completion; tax; technical.

Level Basic

Prerequisites/advance preparation No prerequisites and no advance preparation required.

Location: Fort Worth Chapter TSCPA classroom, 550 Bailey Suite 225, Fort Worth, TX 76107. To search for convenient hotels, we suggest using Marriott.com and searching with the 76107 zip code; there are several nearby properties.

Included in your registration: Digital materials. Free wifi and parking. Sodas, water, coffee and box lunch.

Contact cpeinfo@fortworthcpa.org

About our cancellation and refund policies and our authority to issue CPE.

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Oil and Gas Tax: Fundamentals


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