Generally, what is the Drilling Royalty Credit?
The Drilling Royalty Credit program is a short term stimulus providing credits for qualifying drilling during the current economic slowdown. These credits, once established by drilling, will be paid to eligible companies based on their royalty obligations during the program. The program is two years in duration, allowing the establishment of credits through drilling, and payment of credits based on royalty obligations, from April 1, 2009 until March 31, 2011.
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- Generally, what is the Drilling Royalty Credit?
