Thursday, January 23, 2025

Possible Windfall For Oil Industry With Border Tax, But Passage Uncertain

From The Fuse President Trump is promising a major overhaul of the U.S. tax code, with an eye on cutting corporate and income tax rates. But one provision of the Trump tax proposal is a border-adjustment tax, which would exempt taxes on U.S. exports but eliminate the deductions that corporations are allowed to take for the cost of imports. The

Centennial Resource Development Provides Update Regarding Its Acquisition of the Upstream Assets of Silverback Exploration

As previously announced, on December 28, 2016, Centennial Resource Development, Inc. together with its affiliates, including Centennial Resource Production, LLC (“Centennial” or the “Company”) (NASDAQ:CDEV) (NASDAQ:CDEVW), completed the acquisition of leasehold interests and related upstream assets in Reeves County, Texas from Silverback Exploration, LLC and Silverback Operating, LLC (collectively, “Silverback”).  The acquired acreage included 11,694 net acres subject to an

Alberta Industry Group Forecasts Increased Drilling in 2017

By The Canadian Press CALGARY—The Petroleum Services Association of Canada says it’s raising its forecast for drilling activity for 2017 in view of rising optimism in the oil and gas industry. The Calgary-based group now says it expects 5,150 wells to be drilled this year, up 23 per cent or 975 wells over its forecast in early November. Petroleum Services Association