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The oil industry receives subsidies through the United States tax code, which include Percentage Depletion Allowance, [35] Domestic Manufacturing Tax Deduction, the Foreign Tax Credit and Expensing Intangible Drilling Costs. It is estimated that these tax deductions are worth $4 billion annually and are currently being debated by the government ...
DFR – drilling factual report; DG/DG# – diesel generator ('#'- means identification letter or number of the equipment i.e. DG3 or DG#3 means diesel generator nr 3) DGA – diglycoamine; DGDS – dual-gradient drilling systems; DGP – dynamic geohistory plot (3D technique) [10] DH – drilling history; DHC – depositional history curve
In accounting, amortization is a method of obtaining the expenses incurred by an intangible asset arising from a decline in value as a result of use or the passage of time. Amortization is the acquisition cost minus the residual value of an asset, calculated in a systematic manner over an asset's useful economic life.
Halliburton (NYS: HAL) carries $2.0 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road. Could ...
I've followed oil and gas producers for a long time, which has yielded three timeless, deceptively simple lessons. One: Asset intensive, cyclical businesses with huge operating leverage and fat ...
Denbury Resources (NYS: DNR) carries $1.2 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road.
Drilling engineering is a subset of petroleum engineering. [1] Drilling engineers design and implement procedures to drill wells as safely and economically as possible. [1] They work closely with the drilling contractor, service contractors, and compliance personnel, as well as with geologists and other technical specialists.
Depletion is an accounting and tax concept used most often in the mining, timber, and petroleum industries. It is similar to depreciation in that it is a cost recovery system for accounting and tax reporting: "The depletion deduction" allows an owner or operator to account for the reduction of a product's reserves.