Texas Oil and Gas Severance Tax Refunds

It is becoming increasingly more difficult for oil and gas companies to understand the every changing Texas severance tax regulations. Texas law provides several opportunities for oil and gas companies to obtain a severance tax refund most oil and gas companies don't even know they are eligible to get a severance tax refund. Small Oil and gas operators typically don't have the internal resources available to dedicate to learning about and obtaining these refunds. On the 20th of each month another month of severance tax refunds expire as the State of Texas has a four year statute of limitations on severance tax refunds.

Besides losing the opportunity to claim their severance tax refunds oil and gas operators now face the possibility of class action lawsuits from owners with an economic interest in their wells.  There as a been a string of high profile class action lawsuits filed against various oil and gas companies.

Since 2002 Petroleum Accounting Consultants has been obtaining severance tax refunds for oil and gas operators during that Petroleum Accounting Consultants has recovered over $37 million in severance tax refunds. Our severance tax consultants are continually trained and up-dated on all the new severance tax developments.

While working with well over 100 oil and gas operators, over the past ten years, we have developed a methodology for our reviews that limits the time we need from internal staff to about one to two hours. Our clients' are always amazed at the return the receive on their investment of a couple of hours.

Since we perform our oil and gas severance tax reviews on a contingency fee basis oil and gas operators have nothing to lose to find out if their wells qualify for a refund.  For more information on how Petroleum Accounting Consultants can help you with obtaining your severance tax refunds please fill out the form below.



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Testimonials

"I have been extremely pleased with results Petroleum Accounting Consultants, PLLC has obtained for my company. The professional and knowledgeable staff obtained a substantial refund of tax dollars that we would not have had the time or the expertise to recover ourselves.

In order for them to perform their review it took less than one hour of my time. All that was required of me was to show their staff where the well files were and they took it from there. They completed all the necessary filings with the state agency's to obtain the refund and all I had to do was sign the refund checks.

It has been a great pleasure to deal with Petroleum Accounting Consultants, PLLC and we will continue to use their services. I would strongly recommend that all oil and gas operators contact Petroleum Accounting Consultants, PLLC to perform a review of their severance taxes."


Centaur Resources, Inc. - Ernest G. Brewer Jr.

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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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