Cost/Tax Benefits

 

When you choose Bio Tech, Inc. you are not only choosing an extremely efficient solution to your oil and gas, wastewater or bioremediation problem, you are also choosing a cost effective solution.  Microbial treatment is widely recognized as the lowest cost treatment in many circumstances compared to conventional treatment methods.  

There are also lucrative federal and state tax incentives available for using Bio Tech’s microbial technology.  

 

Our skilled technical staff supports all phases of our service and treatment programs.  This staff includes degreed chemists, chemical and petroleum engineers, field engineers, and engineering technicians. Outstanding service, competitive pricing, and a commitment to our customers have made us the industry leader.

 

Federal and State Tax Incentives

 

There are lucrative federal and state tax incentives available for using Bio Tech’s microbial technology. Independent and major oil companies are currently using Bio Tech as a cost-effective answer for problems in most oilfield applications.

 

State Tax Incentives

 

The followings states currently have tax reductions or incentives on oil produced from a recovery project area:

Alabama, Arkansas, Colorado, Florida, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Oklahoma and Texas.

Contact a Bio Tech representitive to find out accurate and up-to-date tax incentives offered by your state for recovery projects.

 

Federal Tax Incentives

 

The federal tax credit is a 15% tax credit for certain costs and expenses in the field. The three categories of this credit are:

 

1. Tangible property - 15% of any amount paid or incurred during the taxable year for tangible property that is necessary to the completion of the project. This includes pumping units, rods, tubing, heater treaters, WKO's, etc.

2. Intangible drilling and development costs - 15% of the cost to drill a producer, injector, supply well, etc.

 

3. Injectant expense - 15% of expenses related to the injectant.

 

This includes:

  • 15% of Bio Tech's cost.
  • Expenses related to injected water, electrical costs for submersible pumps,injection pumps, etc.).
  • Expenses related to reinjected produced water (many operators are including electrical cost for producers).