intangible drilling costs

Costs incurred incident to and necessary for the drilling and preparation of oil or gas wells for production that have no salvage value. Under I.R.C. No. 263, such costs may be deducted in the year paid rather than capitalized and depreciated

Black's law dictionary. . 1990.

Look at other dictionaries:

  • Intangible Drilling Costs - IDC — Costs to develop an oil or gas well for the elements that are not a part of the final operating well. Intangible drilling costs (IDCs) include all expenses made by an operator incidental to and necessary in the drilling and preparation of wells… …   Investment dictionary

  • Intangible drilling and development costs — (IDC)   Costs incurred in preparing well locations, drilling and deepening wells, and preparing wells for initial production up through the point of installing control valves. None of these functions, because of their nature, have salvage value.… …   Energy terms

  • amortization — Fin 1. a method of recovering (deducting or writing off) the capital costs of intangible assets over a fixed period of time. EXAMPLE For tax purposes, the distinction is not always made between amortization and depreciation, yet amortization… …   The ultimate business dictionary

  • List of oil field acronyms — Contents 1 # 2 A 3 B 4 C …   Wikipedia

  • Tax Preference Item — A type of income, normally tax free, that may trigger the alternative minimum tax (AMT) for taxpayers. Tax preference items include private activity municipal bond interest, the qualifying exclusion for small business stock and excess intangible… …   Investment dictionary

  • незапланированные затраты на бурение — — [ russkiy slovar neftegazovoy promyishlennosti/] Тематики нефтегазовая промышленность EN intangible drilling costs …   Справочник технического переводчика

  • расходы, которые невозможно возместить после бурения и завершения скважины — (оплата труда, расходы на горючее, расходные материалы, рентные платежи) [ russkiy slovar neftegazovoy promyishlennosti/] Тематики нефтегазовая промышленность EN intangible drilling and development costs …   Справочник технического переводчика

  • environment — environmental, adj. environmentally, adv. /en vuy reuhn meuhnt, vuy euhrn /, n. 1. the aggregate of surrounding things, conditions, or influences; surroundings; milieu. 2. Ecol. the air, water, minerals, organisms, and all other external factors… …   Universalium

  • tangible — Having or possessing physical form. Capable of being touched and seen; perceptible to the touch; tactile; palpable; capable of being possessed or realized; readily apprehensible by the mind; real; substantial @ tangible assets Assets with… …   Black's law dictionary

  • Risk management — For non business risks, see risk, and the disambiguation page risk analysis Example of risk management: A NASA model showing areas at high risk from impact for the International Space Station. Risk management is the identification, assessment,… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.