Valence Corgey 1R / Samson Bee GU1 - "HIGH COST TIGHT SAND"
TRC GIS Map under the Completion Section for these wells it says "HIGH COST TIGHT SAND" which I have never seen that phrase used before.. What does that mean, other than the obvious? http://gis2.rrc.state.tx.us/cgi-bin/wellattrs.cgi?apinum=34732987 . Thanks in advance.
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Replies to This Discussion
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Permalink Reply by om28v on -
From the way I understand it Nick "HIGH COST TIGHT SAND" means a well will have to have an expensive frac job done on it, and therefore qualifies for reduced state and federal tax rates to compensate for the higher cost to produce it. Anyone else know any more, or can verify this?
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Permalink Reply by jffree1 on
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I think you are correct. I think it's for the first year of production (could be two?) the severance tax is lower. I don't know about fed. taxes. Maybe one of our industry members can explain it to us.
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Permalink Reply by RBH on
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you can find the latest document on the TRRC website--good source of information
http://www.rrc.state.tx.us/forms/publications/tightgasapproved.pdf
Hight cost tight gas sand-as detailed by om28V- relief from paying severance tax- in the TRRC see lising on page 613=Samson Lone Star LLC Pettit and Travis Peak formations-Nacogdoches, E. (pettit) and Martinsville (travis Peak) effective 12-15-2009 and includes ~8500 acres in the Martinsville area -
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