Understanding the Oil Business: A Layman's Guide to the Petroleum Industry and Personal Investing |
Common terms and phrases
acreage allocated alternative minimum tax amount Anticline barrels cash flow Code contract corporation crude oil deductible depletion development costs disclosure dollars drill stem test drilling and development drilling contractor drilling costs drilling mud dry holes entity Exchange Commission exemption expenses exploratory Farmouts federal gas leases gas programs industry intangible drilling interest Internal Revenue Internal Revenue Code Internal Revenue Service investor issuer land landowner lessee lessor limited partners limited partnership ment merits and risks mineral Notary Public offeree representative offers for sale oil and gas oil or gas one-eighth ordinary income paid payment person acting petroleum porosity production promoter prospectus public offering pump purchase pursuant Regional Office registration reserves reservoir rock rotary royalty Salt Domes Section 4(2 Securities and Exchange sedimentary rocks specific storage structure subparagraph surface taxable taxpayer terest term tion transaction turnkey vestor wellhead