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  • North Dakota Petroleum Council - Industry News
    Office of State Tax Commissioner SUBJECT Notification of Oil Trigger Price Adjustment for Calendar Year 2006 DATE December 31 2005 In keeping with the provisions of North Dakota Century Code N D C C 57 51 1 01 the Tax Commissioner has determined that the oil trigger price for the calendar year January 1 2006 through December 31 2006 is 39 36 For your information the following steps determined the trigger price for calendar year 2006 STEP 1 The annual average of the industrial commodities producer price index commodity code 03 thru 15 as published by the U S Department of Labor Bureau of Labor Statistics for fiscal year 2005 was computed from the data shown below July 2004 148 2 August 2004 149 3 September 2004 149 1 October 2004 151 8 November 2004 153 5 December 2004 152 0 January 2005 152 7 February 2005 153 6 March 2005 155 6 April 2005 157 2 May 2005 156 3 June 2005 156 6 Annual Average 153 0 STEP 2 A base rate adjustment of 1 10870 was computed by dividing the 2005 fiscal year average price index of 153 0 by the base rate index of 138 0 which was determined using the 2001 fiscal year average i e 153 0 138 0 1 10870 STEP 3 The effective trigger price of 39 36 for calendar year 2006 was computed by multiplying 35 50 times the base rate adjustment of 1 10870 i e 35 50 X 1 10870 39 36 In accordance with N D C C 57 51 1 if the average price of a barrel of crude oil i e monthly average daily closing price for a barrel of west Texas intermediate Cushing crude oil minus two dollars and fifty cents exceeds the trigger price

    Original URL path: http://www.ndoil.org/news/industry_news/2006-annual-tax-trigger-adjustment/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    Purchasers FROM Office of State Tax Commissioner SUBJECT Notification of Oil Trigger Price Adjustment for Calendar Year 2007 DATE December 31 2006 In keeping with the provisions of North Dakota Century Code N D C C 57 51 1 01 the Tax Commissioner has determined that the oil trigger price for the calendar year January 1 2007 through December 31 2007 is 42 89 For your information the following steps determined the trigger price for calendar year 2007 STEP 1 The annual average of the industrial commodities producer price index commodity code 03 thru 15 as published by the U S Department of Labor Bureau of Labor Statistics for fiscal year 2006 was computed from the data shown below July 2005 159 1 August 2005 160 8 September 2005 166 0 October 2005 170 6 November 2005 167 6 December 2005 166 5 January 2006 168 3 February 2006 165 7 March 2006 166 3 April 2006 168 8 May 2006 170 6 June 2006 170 6 Annual Average 166 74 STEP 2 A base rate adjustment of 1 20826 was computed by dividing the 2006 fiscal year average price index of 166 74 by the base rate index of 138 0 which was determined using the 2001 fiscal year average i e 166 74 138 0 1 20826 STEP 3 The effective trigger price of 42 89 for calendar year 2007 was computed by multiplying 35 50 times the base rate adjustment of 1 20826 i e 35 50 X 1 20826 42 89 In accordance with N D C C 57 51 1 if the average price of a barrel of crude oil i e monthly average daily closing price for a barrel of west Texas intermediate Cushing crude oil minus two dollars and fifty cents exceeds the

    Original URL path: http://www.ndoil.org/news/industry_news/oil-trigger-price-adjustment-for-calendar-year-2007/ (2016-05-01)
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  • North Dakota Petroleum Council - Industry News
    Center Industry News Industry News Bakken Talk Posted 11 25 08 Tue As part of Oil Can additional Oil and Gas Town Hall meetings titled Let s Talk Bakken have been scheduled for November 11 12 2008 in Bowbells Powers Lake Parshall Stanley and Killdeer The Town Hall meetings will bring together public officials industry experts and the general public in efforts to further develop understanding of the oil industry as well as get a feel for concerns and questions people may have for the oil and gas industry This series of Town Hall meetings will focus on the basics of drilling a Bakken well and producing oil from the Bakken shale formation Presenters will also cover topics such as the Energy and Environmental Research Center s Bakken Water Opportunity Assessment transporting North Dakota s oil and gas and the Petroleum Council s Oil Can program Ron Ness President of the North Dakota Petroleum Council said It became evident to us following our previous eight Town Hall meetings that there is a lot of curiosity in the general public about how the oil industry works Ness continued by saying Meetings such as these are an opportunity for us to share

    Original URL path: http://www.ndoil.org/news/industry_news/bakken-talk/ (2016-05-01)
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