DEADBEAT Signal Oil And Gas

Signal Oil and Gas The Railroad Commission is requiring Texas gas producers filing NGPA Section 107 High-Cost gas determination applications to abide by the following filing deadlines:
December 31, 2002: Last date for filing Area Designation Applications with the Railroad Commission

Signal Oil and Gas - April 1, 2003: Last date for filing Individual Well Certifications with the Railroad
Commission for the purpose of qualifying for the IRS Section 29 Federal Income Tax Credit. Signal and Oil
These two filing deadline dates have been established by the Railroad Commission to provide commission staff sufficient time to process applications and timely transmit recommendations to FERC by their required due date. The FERC will review all applications and the Railroad Commission’s eligibility recommendations and will render the final determinations. Signal Oil and Gas

The Railroad Commission of Texas amended §3.80, Commission Oil and Gas Forms, Applications, and Filing Requirements, to add a new form and amend or delete other forms. Listed below are the forms affected. The bill requires the Commission to issue certification if the CO2 used in the EOR project is to be sequestered in a reservoir productive of oil or natural gas; the Texas Commission on Environmental Quality issue the certification if the CO2 used in the EOR project is to sequestered in a formation other than a reservoir productive of oil or natural gas; and both agencies to issue certifications if the CO2 is sequestered in both a formation not productive of oil or natural gas and a reservoir productive of oil or natural gas. Signal OIL and Gas The proposed project must qualify for the tax rate reduction in Tax Code, §202.054, before it can be considered for the additional tax rate reduction in Tax Code, §202.0545. New Form H-12A requests information necessary for Commission staff to determine whether the proposed project meets the statutory requirements for the additional tax rate reduction. Signal Oil and Gas Adoption of Amended Form H-14, Enhanced Oil Recovery Reduced Tax Annual Report. The amended form allows an operator to report the annual injection volume of anthropogenic carbon dioxide. Jim Van Blaricum


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