Gulf Coast Western has specialized in oil/gas exploration activities for over 40 years. Portfolio properties have been sourced specifically within the United States Gulf Coast region, though venture capital partnerships are offered throughout the nation. The company targets the exploration, future development and subsequent acquisition for oil/gas reserves. As of 2018, current activities are seen throughout Colorado, Oklahoma, Texas, Louisiana, Mississippi and Alabama. Joint venture partnerships for future exploration carry substantial benefits. Among these are:
Partnership Tax Benefits
Partners are able to display 100% tax write-off against income. Too, intangible drilling costs are deductible. Minor risk is seen.
- Intangible Drilling Costs (IDC) are fully deductible for the year costs are incurred;
- Drill and Test Capital Contributions are 70%-80% deductible;
- Completion Costs (ICC) are fully deductible for the year costs are incurred;
- Lease & Well Equipment Depreciation (L&W) costs display full depreciation within 5-7 operational years;
- Legal and professional (organizational) costs can be amortized over 5 operational years;
- Prospect Costs can be depleted/amortized over 24 months;
- Lease Operating Expenses are netted against production revenue and are 100% deductible; and,
- The Depletion Allowance tax deduction is available.
Recent Great Western Initiatives
GCW acquired assets of Orbit Energy Partners to develop another South Louisiana position. GCW secured a large interest in South Alabama smack-over acreage. South Texas Home Run Field went into production. GCW began the Buda Limestone horizontal drilling program. A Louisiana Gulf Coast blowout (Conoco) was eventually controlled by GCW. The Alpine Exploration and GCW partnership discovered opportunity within the Orange Dome Field. And, many more strategic portfolio activity is underway, with partnership.
Gulf Coast Western is located at 14160 Dallas Parkway #500, Dallas, Texas 75254. Prospective clients and partners are welcome to contact us at: firstname.lastname@example.org, Voice 800-284-1782 | 972-284-0600, or Fax 972-284-0610.
Find out more about Gulf Coast Western: http://www.gcwenergyservices.com/