Arkansas § 15-72-1001 Tax incentives - Increased volume by enhanced recovery

Arkansas Statutes

§ 15-72-1001 — Tax incentives - Increased volume by enhanced recovery

Arkansas § 15-72-1001

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This text of Arkansas § 15-72-1001 (Tax incentives - Increased volume by enhanced recovery) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-72-1001 (2026).

Text

An oil producer who initiates a program for the enhanced recovery of crude oil pursuant to a plan first approved by the Oil and Gas Commission for purposes of recovering the incremental oil from a well or group of wells which results in the production of a volume of crude oil in excess of the volume produced prior to the commencement of the project shall be granted a fifty percent (50%) reduction in the severance tax which would otherwise be required to be paid, as provided for in § 26-58-111(6) , on the total quantity of the incremental increase in crude oil produced as a result of the approved enhanced recovery project.

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An oil producer who initiates a program for the enhanced recovery of crude oil pursuant to a plan first approved by the Oil and Gas Commission for purposes of recovering the incremental oil from a well or group of wells which results in the production of a volume of crude oil in excess of the volume produced prior to the commencement of the project shall be granted a fifty percent (50%) reduction in the severance tax which would otherwise be required to be paid, as provided for in § 26-58-111(6) , on the total quantity of the incremental increase in crude oil produced as a result of the approved enhanced recovery project.