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Posted on Jun 16, 2024

For tax purposes oil and gas equipment costs are recovered by: a. expensing all costs un der section 179 for successful efforts companies b. is

For tax purposes oil and gas equipment costs are recovered by:

a. expensing all costs un der section 179 for successful efforts companies

b. is different for integrated producers versus independent producers

c. MACRS depreciation as 7 year property with an option for straight line deprecation

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