Replies to This Discussion

Permalink Reply by Parkdota on February 8, 2011 at 12:11

FXEF, thanks for info....I look at it almost every day dying to know what's going on.  Now I know what was going on Nov. 2010...ha.

Permalink Reply by JAMES SMITH on March 2, 2011 at 18:04

Parkdota,

Are you hearing any more news about sec 18 or 19 14/14

Permalink Reply by Parkdota on March 3, 2011 at 9:30

 James, I'm not hearing anything about anything....very frustrating. 

Permalink Reply by DANI CAMP on February 2, 2011 at 8:08

I have some questions about severance taxes. Do  we pay this, or does Encana take care of it? I haven't noticed any deductions on our checks.

Permalink Reply by FXEF on February 2, 2011 at 15:44

Dani,

This may help explain the severance tax issue.

LOUISIANA OTHER SEVERANCE TAX EXEMPTIONS (The following is the Technology Assessment Division summary of the law. For legal definition look them up in the LSA at the indicated statutory citation.)

2) Horizontal wells                STATUTORY CITATION: R.S. 47:633(7)(c)(iii)  

On any horizontally drilled well or any horizontal recompletion from which production commences after July 31, 1994, all severance tax shall be suspended for a period of 24 months or until payout of well cost is achieved, whichever comes first.  Payout of well cost shall be the cost of completing the well to commencement of production. 

Full text at http://www.loga.la/pdf/la_severance_tax_rates.pdf 

Permalink Reply by DANI CAMP on February 3, 2011 at 4:23

Thanks so much. Great news.

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