INTANGIBLE DRILLING COST

By SovConn | June 21, 2013

intangible drilling cost.Oil & gas. An expense that is incident to and necessary for drilling and completing an oil or gas well and that has no salvage value. • Intangible drilling costs may be deducted in the year they are incurred rather than capitalized and depreciated. 26 USCA § 612.

[Blacks Law 8th]

Posted in Law Dictionary Definitions