Cost of Producing, Operating, & Distributing Oil & Gas

Course Properties

Course date: 21-01-2018
Course End Date: 25-01-2018
Location Dubai

Course Objective:

    The program provides a forum for exploring Logic's generic methodology for improving the cost of oil and gas. The methodology includes a number of tools and techniques that can be customized to specific cost improvement initiatives. It draws on a variety of sources, and contains techniques that have been developed by operators, providers, contractors, government organizations and trade associations.


 Who Should Attend:

        This course is very valuable for all staff involved in the Oil and Gas business.


 Course Contents:

                     Module One: Acquisition of Oil and Gas Properties

                                          • Legislative Update and Current Oil and Gas Developments

                                          • Administration’s Legislative Proposals

                                          • Certain Specific Provisions of H.R. 4

                                          • Anti-Industry Legislative Proposals

                                          • Delay Rental Payments

                                          • Marginal Oil

                                          • Production Payment – Pledged to Development

                                          • Section 29 No conventional Fuel

                                          • Enhanced Oil Recovery Credit

                                          • Salvage Value and Depreciable Property Issues

                                          • Substance Over Form and Tax Shelter Cases

                                          • Other Current Developments

                                          • Passive Activity Losses

                                          • Like Kind Exchanges

                                          • Working Definitions and Concepts


                     Module Two: Intangible Drilling and Development Costs

                                          • Definition

                                          • Authority

                                          • Salvage Value Issues

                                          • Who May Deduct

                                          • Timing of IDC Deductions

                                          • Turnkey Contracts

                                          • Offshore Issues

                                          • Foreign IDC’s

                                          • Summary of Optional Treatments for IDCs

                                          • Limitations on Losses

                                          • Questions

                                          • Reproduced Authority


                  Module Three: Conveyances of Property Interests

                                          • Sales or Exchange

                                          • Production Payments

                                          • Take or Pay Contracts

                                          • Sharing Arrangements

                                          • Carried Interests

                                          • Questions


                   Module Four: Depletion

                                         • Introduction

                                        • Unit of Property

                                        • Cost Depletion

                                        • Percentage Depletion

                                        • Summary

                                        • Suggested Procedure for Allocation of Overhead

                                        • Service’s Position Regarding Depletion

                                        • Questions

                                        • Alternative Minimum Tax Issues

                                        • Recapture Provisions

                                        • Abandonment of Oil and Gas Properties

                                        • Secondary Recovery Subsidies

                                        • Credit for Fuel from No conventional Sources

                                        • Questions


                    Module Five: Joint Operations

                                        • Background and Unique Concepts of Oil and Gas Taxation

                                        • Carved-Out Drill Site Problem

                                        • Tax Partnerships Using Special Allocations

                                        • Election Out of Subchapter K

                                        • Gas Balancing Agreements

                                        • Subchapter K Anti-Abuse Rules

                                         • Questions