Gas Marketing Refunds

Oklahoma gross production tax law allows for a reduction in the costs incurred to get natural gas to market.  An operator must calculate the gas marketing expenses incurred on a well by well basis and submit a refund request to the Oklahoma Tax Commission.  Since it is common practice in Oklahoma for the purchaser to withhold the gross production tax from the seller and file the monthly report with the Oklahoma Tax Commission, the operator must obtain permission from the purchaser to amend the report that they originally filed.  To further complicate matters, the Oklahoma Tax Commission requires operators to provide them with copies of the gas purchase statements they received from the purchaser. 

Most operators outsource this task due to the before mentioned hurdles and the time it takes to come up with the deductible costs.

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Testimonials

"We engaged Petroleum Accounting Consultants, PLLC to review the wells we operate for gross production tax refunds. Petroleum Accounting Consultants, PLLC performed all the work necessary to determine eligibility. All we had to do was sign the forms submitted to the Corporation Commission and Tax Commission. As a result of Petroleum Accounting Consultants, PLLC's work we received substantial refunds of gross production taxes. Petroleum Accounting Consultants, PLLC is continuing to review our workovers and file refund claims for us. We are extremely pleased with their work and professional attitude."

- Phoenix Oil & Gas, Inc. - Jack Nogalski

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Gross Production Tax Refunds

Over the years we have worked with over 70 companies and recovered over $30 million in refunds for those companies. We have obtained refunds for large publicly traded companies and small privately held companies. We have been able to get a a refund of gross production taxes for every client that has retained our services.

Because of our years of experience we are able to obtain these refunds with very little of our clients' time. Based on our experience we are able to identify opportunities that in-house accountants would miss. Outsourcing your gross production tax refunds will result in a larger refund because of our years of experience. Our fees are based on a contingency fee structure so there is no fee is we are not able to recover a refund for your company. Give our office a call today to schedule your free assessment of the refunds that may be available to your company.

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