Oil and Gas Tax

With a focus on serving companies in the energy sector, Baker Botts has a long and rich experience advising on tax issues in the oil and gas industry. Clients understand the importance of selecting advisors who appreciate the history and evolution of oil and gas tax issues, given the sparseness of Code provisions and judicial decisions setting forth the peculiar rules and concepts unique to the industry, and an environment of ever-changing deal dynamics. 

Our tax lawyers have the depth of experience that clients need when dealing with the intricacies of the details of the intangible drilling cost rules and transactions involving tax partnerships to conceptual issues such as the pool-of-capital doctrine or the essence of the economic interest.

We have substantial experience with:

  • Joint ventures
  • Cash and carry transactions
  • Production payment transactions
  • Like-kind exchange transactions involving oil and gas interests
  • Oil and gas asset acquisitions

Our team works with clients to find innovative solutions for some of the most complex tax challenges in the oil and gas industry. We have experience simplifying internal structures and managing internal mineral interest transfers to avoid negative federal and state tax implications, to maximize intangible drilling cost or depletion expense, or to position our clients’ oil and gas asset portfolio for exit strategies including sales to strategic or financial buyers and public offerings of corporate, MLP or royalty trust interests, maximizing optionality for our clients’ future.


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