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Oil and Gas Tax

The mission of our Oil & Gas Tax Services is to provide melded engineer technical and business and commercial development experience to produce ideas and strategies related to the petroleum industry’s financial and tax matters. Our services include but are not limited to the following:

Tax Matter 



Petroleum Industry Overview and Tax Matters Inexperienced staff, specific issue(s) awareness and/or treatment Seminar

  • Highlight the beginning of petroleum formation, upstream operations, map reading, downstream operations, taxation and financial terminology -what they mean and how they tie to and are applied in the industry.
Depletion Property Definition for Depletion Purposes Seminar

  • Review and evaluate records that reflect property concept for tax purposes
  • Determination of separate mineral deposits for separate property treatment.
Depletable Basis Evaluation, Analysis, Determination, Confirmation
of allocation  of costs between leasehold and equipment
Reserve Estimates Evaluation, Analysis, Determination, Confirmation
Review of reserve categories as they apply to depletion deductions proved

  • Proved Developed Producing Reserves
  • Proved Developed Nonproducing Reserves
  • Proved Undeveloped Reserves

Unproved Reserves

  • Probable Reserves
  • Possible Reserves


Proven Property Transfers for Percentage Depletion Purposes Evaluation, Analysis, Determination, Confirmation
if or when deductions can be taken by transferees
Cost and Percentage Depletion Calculation, Evaluation, Analysis, Determination, Confirmation
Intangible Drilling Costs (IDC) Capital vs. Expense Evaluation, Analysis, Determination, Confirmation
Timing of Deduction Evaluation, Analysis, Determination, Confirmation

Prepaid Expenses

Contract Provisions

  • Turnkey
  • Footage
  • Day Work
Partnerships Evaluation, Analysis, Determination, Confirmation

  • Partnership Verification
  • Allocation of  IDC deduction
Carried Interest Arrangements Evaluation, Analysis, Determination, Confirmation
of  carrying and carried parties’ agreement
Bottom-hole and Dry-hole Contributions Evaluation, Determination, Confirmation of abandonment or property retention status
Lease and Leasehold Costs Geological and Geophysical (G&G) Expenditures Evaluation, Analysis, Determination, Confirmation
of Capital Costs versus ExpenseAllocation of Expenditures
Delay Rentals Evaluation of payments to determine whether delay rentals, lease bonus, royalty payments
Top Leasing Evaluation, Determination, Confirmation of EXPIRATIONS AND RENEWALS of leases
Acquisitions Evaluation, Analysis of Allocation of G&G Expenditures, Leasehold and Equipment Costs
Sales, Exchanges  and Other Dispositions
Sale of Lease Equipment Evaluation, Analysis of Allocation between Leasehold and  Equipment costs
Production Payments Evaluation, Analysis, Determination, Confirmation
of compliance to production payments derived as per arrangement
Worthless Minerals Evaluation, Analysis, Determination, Confirmation
of transactions and identifiable events
Lease  Abandonment Evaluation, Analysis, Determination, Confirmation
of expiration under lease terms, lease forfeit, top lease, establishing a time of worthlessness
Sublease Evaluation, Analysis, Determination, Confirmation
of retention or nonretention of nonoperating interest.
Enhanced Oil Recovery (EOR) Credit “Unapproved” EOR Methods Technical Support in Identification  to reflect advances in technology
Qualified Expenditures and   Credit Amount Identification and Estimate
Private Letter Ruling Request Technical Support in Preparation for ruling for a decision on a method.
Contract Compliance Expense Overpayments, Revenue Underpayments Evaluation and Analysis 
of  high impact Joint Operating, Partnership, Lease and Purchase/Sales agreements of revenues  and expenses derived


For more information contact us.

Your Trusted Partner for Oil & Gas Tax Expert Services in Texas: Inovativ Solutions

Inovativ Solutions, your trusted partner for oil & gas tax expert services in Texas, deeply understands the unique tax and legal challenges of the oil & gas industry. We offer comprehensive consulting and advisory services tailored to your needs. Whether you need general oil & gas tax services or specific oil & gas expert witness services, we can help.

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Comprehensive Tax Services

Our experts specialize in providing comprehensive oil & gas tax services in Texas, focusing on helping businesses maximize their profitability while ensuring compliance with complex tax laws. Whether you’re a small operator or a multinational corporation, our team has the expertise to assist with numerous tax matters.

Count on Our Expansive Knowledge

Inovativ Solutions offers oil & gas expert witness services in Texas. Our professionals possess deep industry knowledge and litigation experience to provide credible, concise, and compelling testimonies in various technical and legal disputes you may face.

We Help You Save Money

We can help you navigate the intricacies of oil & gas tax credit services in Texas. These credits can significantly offset your operational expenses, but understanding and applying them can be complex. Our team will guide you through the process, helping you understand your eligibility, claim credits, and strategically plan your finances.


What are the different oil & gas tax services provided by Inovativ Solutions in Texas?

Inovativ Solutions provides various tax services for the oil & gas industry, including tax consulting, tax planning, tax credit services, and expert witness services.

Why should I choose Inovativ Solutions for oil & gas tax services in Texas?

Inovativ Solutions combines deep industry knowledge with legal expertise to provide tailored solutions that maximize profitability while ensuring compliance with complex tax laws.

How does Inovativ Solutions help with oil & gas tax credits in Texas?

Inovativ Solutions guides businesses through understanding and applying for tax credits, offsetting operational expenses, and strategically planning finances for future sustainability and growth.