March 31, 2011 Petroleum Accounting Consultants files eight gross production tax rebate refund applications for three different Ardmore, OK based oil and gas operators. PAC will also start field work for Oklahoma City based oil and gas operator to uncover wells that qualify for gross production tax refund based on recent workover being performed on the wells.
March 30, 2011 Petroleum Accounting Consultants continues field work at two Ardmore, OK oil and gas operators and meets with two additional oil and gas operators about obtaining gross production tax refunds on their behalf.
March 29, 2011 Petroleum Accounting Consultants receives credit memo letters totaling $183,216.72 from the Oklahoma Tax Commission regarding severance tax refunds that have been approved and will be paid in the near future.
March 25, 2011 Petroleum Accounting Consultants starts field work for another Ardmore, OK based oil and gas company with over 70 operated Oklahoma oil and gas wells.
March 23, 2011 Petroleum Accounting Consultants files three gross production tax refund applications with the Oklahoma Corporation Commission on wells for Ardmore, OK based oil and gas company.
March 22, 2011 Petroleum Accounting Consultants receives gross production refund checks totaling $911,712.88 from the Oklahoma Tax Commission.
March 21, 2011 Petroleum Accounting Consultants files for $9,096.58 in gross production tax refunds for Oklahoma City based oil and gas operator with the Oklahoma Corporation Commission. Additionally, PAC files five more gross production tax refund applications with the OCC for Ardmore, OK based oil and gas operator.
March 18, 2011 Petroleum Accounting Consultants receives gross production tax refund checks for $19,725.83.
March 17, 2011 Petroleum Accounting Consultants receives gross production tax refunds from the Oklahoma Tax Commission totaling $21,495.66. These refunds were for two different oil and gas producers. The total refunds requested to-date for the two companies is in excess of $70,000. Between these two operators they operate less than 60 wells combined. Additionally, PAC receives gross production tax refund approval letters from the Oklahoma Tax Commission totaling $97,256.62.
March 16, 2011 Petroleum Accounting Consultants files another gross production tax refund claim for Houston based operator bringing the total to-date to 28 applications for refunds on less than 70 operated wells. We believe their will be at least ten additional filings made for this company.
March 15, 2011 Petroleum Accounting Consultants identifies $52,724.11 in refunds overlooked on just two wells by one of the 100 fastest growing companies in America. PAC detailed review of previous Oklahoma Corporation records and Oklahoma Tax Commission records nets a significant windfall for the current operator of these two wells.
March 14, 2011 Petroleum Accounting Consultants receives approvals from the Oklahoma Tax Commission for gross production refunds totaling $102,432.66. Additionally, PAC files with Oklahoma Corporation Commission two gross production tax rebate applications for Houston based oil and gas operator. This brings the total applications filed for this operator to 27 on less than 70 operated wells.
March 11, 2011 Petroleum Accounting Consultants receives 44 gross production tax refund checks from the Oklahoma Tax Commission for a total of $286,311.02. These refund checks were for 10 different clients and represent just a portion of the refunds PAC has applied for on behalf of these clients. The total refunds PAC has applied for on behalf of these 10 clients exceeds $1.6 million.
March 10, 2011 Petroleum Accounting Consultants files six additional gross production tax refund applications with the Oklahoma Corporation Commission for Houston based oil and gas operator. Field work was completed for this client was completed just one week ago on March 4th and PAC has already filed 25 applications filed for this operator.
March 9, 2011 Oklahoma City based oil and gas operator engages Petroleum Accounting Consultants to review their wells files for tax rebate applications. This operator filed several applications and had them dismissed the the Oklahoma Corporation Commission and grew frustrated with the process. With over 180 Oklahoma operated wells we anticipate based on operators of similar size that we should be able to get approved well over 100 tax rebate applications.
Additionally, PAC files with the Oklahoma Corporation Commission tax rebate applications on two oil and gas wells which had enhancement operations performed on them. These applications were for Houston based oil and gas operator bringing the total filed for this operator to 19 applications filed within a week.
March 8, 2011 Petroleum Accounting Consultants receives approval letter from Oklahoma Tax Commission for a $71,499.56 refund on a deep well drilled in Oklahoma for a Midland, TX based oil and gas operator. PAC also files a gross production tax refund claim for $5,467.14 with the Oklahoma Tax Commission for an Oklahoma City based oil and gas operator.
PAC files four more tax rebate applications with the Oklahoma Corporation Commission for Houston based oil and gas operator brining the total applications filed to 17 filed since field work concluded on March 4th.
March 7, 2011 Petroleum Accounting Consultants files seven more gross production tax rebate applications with the Oklahoma Corporation Commission for Houston based oil and gas operator. PAC agrees to terms with Plano, TX oil and gas operator to recover severance tax refunds on their behalf. Additionally, PAC files $10,010.37 in gross production tax refund claims with the Oklahoma Tax Commission. These refund claims were filed on behalf of four different oil and gas producers. The average life-to-date refunds we have obtained for these four clients totals $76,383.
March 5, 2011 Petroleum Accounting Consultants files six gross production tax rebate applications with the Oklahoma Corporation Commission for Houston in less than 24 hours after the completion of field work. PAC receives credit memos from the Oklahoma Tax Commission totaling $103,613.88.
March 4, 2011 Petroleum Accounting Consultants concludes field work at Houston oil and gas operator. PAC was able identify several opportunities that will result in severance tax refunds.
March 3, 2011 Petroleum Accounting Consultants begins field work for Houston based oil and gas operator. PAC will review all 75 Oklahoma operated properties for severance tax refund possibilities.
March 2, 2011 Petroleum Accounting Consultants files for a gross production tax refunds of $1,571.23 on one well for Oklahoma City based oil and gas operator. PAC also files tax rebate application with the Oklahoma Corporation Commission for an enhancement project that increased production on a well operated by Ardmore, OK based oil and gas operator.
March 1, 2011 Petroleum Accounting Consultants receives gross production tax refund checks in the amount of $190,291.41 from the Oklahoma Tax Commission for Tulsa, OK based oil and gas operator. PAC also files for a gross production tax refunds of $1,571.23 on one well for Oklahoma City based oil and gas operator. Additionally, PAC files tax rebate application with the Oklahoma Corporation Commission for an enhancement project that increased production on a well operated by Ardmore, OK based oil and gas operator.
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