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Stay up to date with the happenings in the oil industry and other oil and gas exploration information around the world.

What Are Mineral Rights?

What Are Mineral Rights?

Generating passive income can be achieved in different ways, and investing in mineral rights stands out as a particularly lucrative option. Owning mineral rights in Texas offers numerous advantages and rewards, but...

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Depletion Allowance Explained

Depletion Allowance Explained

The IRS code provides the percentage or cost depletion allowance as a means for owners to account for the depletion of reserves during the production and sale of oil and gas. This depletion allowance is...

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What Is Intangible Drilling Cost?

What Is Intangible Drilling Cost?

Intangible drilling cost (IDC) is a significant tax benefit for oil companies, allowing them to deduct the expenses associated with drilling wells in the United States. Typically, businesses in the oil...

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