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What Is An Independent Oil And Gas Firm?

by Joseph
August 17, 2018
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The simple definition of an Independent Oil and Gas Firm is a non-integrated corporation which receives practically all of its revenues from production at the wellhead. They are exclusively in the exploration and production segment of the market, with no downstream promoting or refining inside their operations. The tax definition published by the IRS states that a firm is an Independent if its refining capacity is significantly less than 50,000 barrels per day on any offered day or their retail sales are significantly less than $five million for the year. Independents variety in size from massive publicly held providers to little proprietorships.

A lot of independents are privately held little providers with significantly less than 20 personnel. The Independent Petroleum Association of America (IPAA) recorded in a 1998 survey that “a massive percentage of independents are organized as C Corporations and S Corporations at 47.six% and 27.7%, respectively. A total of 91.four% of responding providers are classified as independent (versus integrated) for tax purposes. A lot more than a single fifth of responding providers reported their stock is publicly traded.”

Independent producers derive investment capital from a selection of sources. A 1998 IPAA survey reports that 36.two% of capital is generated by means of internal sources followed by banks 27.eight % and outdoors investors (oil &amp gas partners) at 20.three %.

Supplying Future Power Requirements

The U.S. Power Details Administration (EIA) states in their Annual Power Outlook 2007, “Regardless of the fast development projected for biofuels and other non-hydroelectric renewable power sources and the expectation that orders will be placed for new nuclear energy plants for the very first time in extra than 25 years, oil, coal, and organic gas nonetheless are projected to offer roughly the identical 86-% share of the total U.S. main power provide in 2030 that they did in 2005.” In this report the EIA also predicts constant development in U.S. power demand from 100.two quadrillion Btu in 2005 to 131.two quadrillion Btu in 2030.

Maturing production locations in the decrease 48 states and the want to respond to shareholder expectations have resulted in significant integrated petroleum providers shifting their exploration and production concentrate toward the offshore in the United States and in foreign nations. Independent oil and gas producers increasingly account for a bigger percentage of domestic production in the close to offshore and decrease 48 states. Independent producers’ share of decrease 48 states petroleum production enhanced type 45 % in the 1980’s to extra than 60 % by 1995. Right now the IPAA reports that independent producers create 90 % of domestic oil and gas wells, create 68 % of domestic oil and create 82 % of domestic gas. Clearly, they are crucial to meeting our future power wants.

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  • Saint Nicholas came to our doorstep this year and left sweet surprises on the keyboards of all of our colleagues at ASSIST Software         We hope that he visited you too and left lots of smiles  gifts  and enthusiasm for the coming year  Happy Birthday to all who celebrate their name day today         saintnicholas  lifeatASSIST  happyatwork
  •          Whether we are hiking in the mountains  writing code or representing our country at international events  we always carry the tricolor in our souls and take pride in being Romanian   Happy National Day  Romania  Happy National Day to Romanians everywhere              happynationalday  romania  assistsoftware  1decembrie  ZiuaRomaniei
  •      The final round of the International Student Competition on Information Security CTF-USV 2019  Capture the flag  took place from the  27th to the 29th of November   This contest is in its fourth edition and is organized by the    tefan cel Mare  University of Suceava  in partnership with ASSIST Software and Safetech Innovations Bucharest        Congratulations to all participants and winners for their efforts and result                lifeatASSIST  CTFUSV  assistsoftware  assistculture  learn  challenge  happy  coding  teamwork  inovativeminds  lovewhatyoudo  workhard  programming  developers  assistsoftware  suceava  romania
  •      Career planning  applying for a job  and job interviews are just a few of the steps that every student has to go through at the beginning of their career journey       Check out these pictures and see how it was our activity at the Stefan cel Mare University of Suceava                lifeatASSIST  codeyourdreams  creativity  inovativeminds  innovation  career  careerplanning  programmerlife  students  learning  presentation  students  careerjourney  assistculture  assistsoftware  suceava  romania  usv
  •      Here s what an hour  dedicated to passion and performance looks like  with the athlete Andrei Gafi  a and students from the  Ion Creang    Suceava Middle School       We are proud to support the  First steps in performance sport  event initiated by Andrei Gafi  a   Romania s runner-up in the 50 km race walk           lifeatASSIST  inovativemind  performance  weareproud  andreigafita  nationalchampion  racewalking  students  learn  activity  highschool  assistsoftware  assistculture  suceava  romania
  •      Last Friday  ASSIST Software took part in an event organized by Andrei Gafi  a  the national 50 km race walking runner-up  for the students of the  Ion Creang    High School in Suceava            Discover the photos we made during this activity and see how it was             lifeatASSIST  teamwork  passion  weareproud  kudos  assistsportsclub  andreigafita  nationalchampion  racewalking  students  learn  activity  highschool  assistsoftware  assistculture  suceava  romania
  •      Last Saturday  we had the pleasure of  meeting first-year students from the Stefan cel Mare University of Suceava who participated in the  iKnow  student competition              We are happy that more and more students are actively participating in computer science  events and competitions in order to test their theoretical knowledge and programming skills and  to gain more experience in the IT field   Thank you to the student association  firesc usv for inviting us to be partners of this event and congratulations on organizing the student festival UniFEST Suceava 2019    USV  studentcontest  techcontest  programmers  suceava  partmerships  UniFEST  firesc  suceava  assistsoftware
  •      Yesterday we had a new successful meeting with students from the Faculty of Electrical Engineering and Computer Science Suceava   Our colleagues  Gabriel Tironeac - Head of Game Development and C  t  lin Zambalic - Game Developer  talked about the important stages of creating a video game  the knowledge necessary to be a game developer  and also about working in such a departament                lifeatASSIST  teamwork  passion  weareproud  kudos  workhard  programming  developers  workshop  learning  workwithpassion  presentation  usv  gamedeveloper  videogames
  •      Last night  we had the honor to be awarded at the  Top National Companies of 2019  Gala and win third place in the  Research  Development and High Tech  category  This award is yet another important achievement for the ASSIST Software team  and at the same time  a confirmation that as long as we put passion into everything we do  we will continue to receive this type of recognition                codeyourdreams  gala  topnationalcompanies  award  3rdprize  wearehonored  greatexperience  proud  passion  tech  innovation  assistsoftware  suceava  romania

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