4. If not sole owner, your ownership interest therein, and the name, address, and ownership interest of each of the other joint owners.... (f) Bonus, either cash or property.. 7. Date property was acquired.... 8. (a) Manner of acquisition: (Purchase, trade, gift, etc.). (b) Amount paid in cash.. (c) Amount paid in stock... (1) Par value of stock... (2) Actual cash value of stock.. (3) How was this cash value established? (d) Amount paid in bonds.. (1) Par value of bonds.. (2) Actual cash value of bonds.. (3) How was this cash value established? (e) Amount paid in other considerations.. $ Note.-Attach separate statement for each tract, entering your totals only on this sheet. (1) What were the considerations? (2) State actual cash value of these considerations. (3) Manner of determining this cash value. (4) Name and address of party establishing value.. (5) Append a copy of the report of the party establishing cash value or a résumé of his report. (f) Cash value of total consideration paid for property as established by you. $..... Note.-If necessary, append a typewritten statement in order to fully answer these questions 8 (a) to 8 (f). 9. The following data regarding each separate tract are required of all taxpayers owning or operating oil and/or gas properties and/or leases. Map. Map showing as of date of acquisition, location of the property, property boundaries, and location of all wells and other developments in this vicinity. This map must be on a convenient scale, preferably of not less than 1/31680 or 2 inches to the mile for developed areas, and should show the following information for each tract as of date of acquisition: (a) Wells producing; (b) Wells temporarily suspended; (e) Wells productive but now abandoned; (d) Wells completed to oil or gas sand or zone, but nonproductive; (f) Wells drilling; (9) Area considered (1) producing, (2) proven, (3) highly probable, and (4) possible oil and/or gas lands, and (5) land worthless for oil and/or gas production. (Proven or proved oil or gas land is that which has been shown by finished wells supplemented by geologic data to be such that other wells drilled thereon are practically certain to be commercial producers.) In the case of a company owning more than one tract in a single pool or field, a field map folded to letter size dimensions, say 8 by 10 inches, if not too cumbersome, may be sent, and each tract designated by a letter or some other convenient symbol. Land data. 10. Area in acres as of date of acquisition of: (a) Fully developed oil or gas territory.. .... (c) Highly probable oil or gas territory. (d) Possible oil or gas territory.. (e) Territory worthless for oil or gas production. Note.-Attach separate statement for each tract, entering your totals only on this sheet. (f) Total acreage 11. Name and address of the party making land classification, as covered in questions 9 and 10. Well data. 12. Furnish the following information as of date of acquisition: (a) Number of wells producing.... (b) Number of wells abandoned or temporarily suspended. (c) Number of wells drilling.... (d) Number of new locations yet remaining undrilled on proven territory 13. (a) Number of producing oil and/or gas sands proven on property. (b) Designation of the different sands, with the average thickness of each and the average depth from the surface to the top of each sand. (c) Any other information regarding conditions in wells which might be used to classify the wells in groups. (d) List of wells as of date of acquisition, showing the following information regarding each. (Use Table similar to 13 (e).) (1) Number or letter by which each is designated. (2) Date of beginning drilling. (3) Date of beginning of production. (4) Date abandoned. (5) Initial daily production. Note. As these production data furnish the foundation for estimating depletion allowances, it is very important that they be given completely and accurately. Note.-Attach separate statement for each tract, entering your totals only on this sheet. F. T.-56 14. Submit table similar to 14(h) showing (a) Production of tract by calendar years, from the beginning of production to date of acquisition, with average number of wells producing each year. (b) The same information for calendar years subsequent to date of ae quisition. (c) Amount received each year for production mentioned in (a) and (b). (d) Average price per barrel received for oil, given by years since production began. (e) Total production prior to date of acquisition..... .barrels. (f) Total production subsequent to date of acquisition.........barrels. (9) Total amount received for production mentioned in (e) and (ƒ). (i) If the tract or wells have been producing for less than two years, monthly production figures must be furnished. 15. (a) Production of individual wells, by calendar years from beginning of production to date of acquisition, if such data are available. (b) Same information for period subsequent to date of acquisition. (c) If, through any cause, it is impossible to give yearly production records by individual wells, state the reasons why this information is not available. Oil and Gas Reserves in Property. 16. (a) What was the estimated total number of units of oil and/or gas in the property on date of acquisition?. (b) How was this estimate made.. (c) Append a copy of the appraisal from which the estimates were derived or append a résumé of the calculations utilized in making the estimate. (d) Give name and address of party making the estimate. Note.-Attach separate statement for each tract, entering your totals only on this sheet. Specific gravity. 17. (a) State range in specific gravity of oil recovered.. (b) State average specific gravity oil delivered.... (c) If more than one grade delivered, give percentage of each for year of acquisition... Casing-head gas. 18. Submit table similar to 18 (i) showing (a) Quantity of casing-head gas produced by months from date of first production to date of acquisition. (b) Quantity of casing-head gas produced by months for period subse- (c) Average number of wells contributing to this production each year. (e) Quantity of gasoline in gallons recovered each year from casing-head (f) Amount received each month for gasoline mentioned in (e). (g) Average price per gallon received for gasoline mentioned in (e). 1 Note. These oil production data are very important, as they are used as the basis for computing the depletion allowances in the case of gas deposits. 19. Submit table similar to 19 (h) giving list of gas wells as of date of acquisition, and showing (a) Number or letter by which each is designated. (b) Date of beginning drilling. (c) Date of beginning production. Note.--Attach separate statement for each tract, entering your totals only on this sheet. |