OKLAHOMA CHEROKEE FORMATION STUDY SHOWS BENEFITS OF GAS TAX CREDITS

Brian J. Stanley Scott B. Cline Hefner Corp. Oklahoma City To no one's surprise, the administration's recently released energy initiative package does not advocate the use of tax incentives such as the Internal Revenue Code Sec. 29 (tight sand gas) credit that expired Dec. 31, 1992. This is unfortunate since tax credits do stimulate drilling, as the authors' recent study of Oklahoma's Pennsylvanian age Cherokee formation demonstrates.

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