Aresco

OCTOBER 25, 2023

Upstream Midstream Downstream are terms commonly used in the oil and gas industry to describe different stages of the production and distribution process. Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs. What is oil and gas upstream midstream downstream?

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Downstream Midstream Upstream Crude Oil 52

Aresco

FEBRUARY 5, 2024

Tangible Drilling Costs (TDC) are expenses associated with the physical aspects of drilling for oil and natural gas. These costs are directly related to the actual drilling operations and typically represent a significant portion of the overall expenses in oil and gas exploration and production.

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Drilling rig Oil Exploration and Production Gas 52

Aresco

NOVEMBER 30, 2023

In this blog, well break down what IDCs are, provide real-world examples, explore their tax treatment, and discuss how excess IDCs could affect your tax strategy. Intangible Drilling Costs (IDC) are a critical element of the financial landscape in the oil and gas industry. What are intangible drilling costs?

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Exploration and Production Consulting Oil Professional Services 52