Joint venture for Sale For $500,000 in Wyoming's biggest oil field!
Electric for well is paid by operator.
Legal fees for title in your name included in price.
All permits & fees are already paid for by existing company.
all repairs for the life of the well are paid by the operator.
The company pay all insurance.
The company carries multimillion dollar insurance policy.
You pay never a cent more then the initial cost which is $500,000 per well turn key.
This company is fully staffed and owns all its equipment including 2 multimillion dollar drilling rig, fully engineering reports and geology. Top notch company.
Company uses the most high tech survey areal equipment on the market. This equipment is precise and locates oil formations in the Gulf of Mexico for the large oil company. This company is the only one that is flying this equipment over land that I know of.
1,000,000 RECOVERABLE Barrels/well. FULL GEOLOGICAL REPORTS and ENGINEERING REPORTS!!!
Please consult a professional tax advisor for further information Intangible Drilling Cost (IDC) Tax Deduction
– IDC’s include: labor, chemicals, mud, grease, etc. (avg. 65%-80% of cost of the well)
– Tangible Drilling Cost (TDC) Tax Deduction
– TDC’s include: The amount of investment in the equipment
– The remaining tangible costs may be deducted as depreciation over a 7-year period. (section 263 of the US Tax Code)
Working Interest in an oil and gas well(s) is considered “Active” income. Deductions can be offset against income from stock trades, business income, salaries, etc. (Section 469 (c) (3) of the US Tax Code) In certain situations, there may be additional tax benefits available, for example, depletion allowances, etc.
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