Depletion Setup

The depletion setup allows you to enter information that is required for the correct calculation of depletion. One record should be added for each well that year depletion is to be calculated for.

Well ID
Enter the well ID of the well for this depletion setup record. The well can be chosen by pressing the F2 key or by clicking on the Well ID button.

Year
Enter the year for this depletion setup record. This depletion record will apply to this well for the given year.

Indirect Expenses
The dollar amount of allocated overhead, i.e. office utilities, officer salaries or general office expenses. Allocated overhead is a deductible expense that is not attributable to any particular well.

Cost Depl
The amount of cost depletion allowable for the year. Your accountant can supply this amount.

Depreciation
The dollar amount of depreciation taken for this well for the year. Your accountant can supply this amount.

IDC
The amount of intangible drilling costs for the year.