Country Report
United States (Lower 48) upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Relatively complex concession-based fiscal regime, where licence terms are dependent upon land ownership. A cash or signature bonus is paid to the land owner when the lease is signed. Royalty rates vary depending upon whether land is State-owned private land, and when the licence was issued. Most states in the US apply a production or severance tax on the gross value of oil and gas production (minus royalties paid or due) irrespective of land ownership. Companies are also liable for...
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Severance (production) tax
- State income tax
- Federal income tax
- Fiscal treatment of decommissioning
- 2 more item(s)...
- Recent history of fiscal changes
-
Texas
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
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Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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TimelineTimeline detailState share versus Pre-Share IRR - oil
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State share versus Pre-Share IRR - gasBonuses, rentals and feesAd Valorem (property) taxRoyalty rates
- 15 more item(s)...
What's included
This report contains:
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