Enhanced Oil Recovery Act of 1991

Summary

Enhanced Oil Recovery Act of 1991 - Amends the Internal Revenue Code to deny the deduction for intangible drilling costs in the case of oil and gas wells and geothermal wells with respect to any well located within the Alaska National Wildlife Refuge. Allows deduction of such costs for any injection wells drilled as part of a qualified enhanced oil recovery project. Establishes a formula to base the enhanced oil recovery credit on the price of oil. Allows the use of the percentage depletion deduction for domestic crude oil resulting from tertiary enhancement recovery methods of cyclic microbial injection and other types of permeability modification treatments. Specifies new processes to be treated as tertiary methods.

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Timeline

1. 28 February 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 28 February 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 February 1991

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 28 February 1991

  Open at official source

Sponsors

• Rep. Owens, Wayne [D-UT-2] · D · Sponsor
• Rep. Kostmayer, Peter H. [D-PA-8] · D · Cosponsor
• · hswm00 · Standing

Related records

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