Oklahoma City, Okla. – DonRay Petroleum, LLC, a privately held oil and gas company located in Oklahoma City, announces their business practices and the benefits of investing in oil and gas joint venture wells.
The oil and gas exploration method used by DonRay Petroleum is called developmental drilling, and once a successful area of production is established the company can then come back and do infill drilling where the odds of achieving production are more enhanced.
“When doing developmental drilling, we usually drill in an area where there are multiple zones known to have previously produced,” said Ray Corbitt. “So, we drill with the idea of penetrating three to four formations of interest in each well drilled, which increases our potential of success and longer-term production.”
One main benefit to direct participation in oil and gas joint venture wells are the tax deductions the IRS allows. All tax deductions will flow back to the individual participants based on their pro rata working interest in the well or wells. The intangible expenses, approximately 78% of the investment, may be deducted the first year. The tangible expenses, approximately 13% of the investment, may be depreciated and deducted over 7 years using the modified accelerated cost recovery system. The remaining 9% represents syndication costs that are non-amortizable capitalized expenditures.
About DonRay Petroleum, LLC
DonRay Petroleum, LLC is a privately held company that engages in Joint Ventures with private investors for the purpose of oil and gas exploration, production, operating and return on investment.
DonRay Petroleum, LLC secures the services of professionals such as exploration companies, geologists, petroleum engineers, landmen, drilling, completion and production consultants, attorneys and accounting firms specializing in oil and gas. DonRay Petroleum, LLC was founded in 2004 in Oklahoma City by Ray Corbitt, Jr. and is a privately held company.
To learn more, go to http://donraypetroleum.com or call toll-free (866) 525-8202.
Contact Information:
DonRay Petroleum, LLC
Attn: Ray Corbitt, Jr.
2525 NW. Expressway, Suite 640
Oklahoma City, OK 73112
Office Phone: 405-418-4348
Toll-Free Phone: 866-525-8202
Email: donraypetroleum@sbcglobal.net
Disclaimer
Production and market prices may vary from month to month, therefore, DonRay Petroleum, LLC is not liable for production, future production or market prices. The press release for DonRay Petroleum, LLC is published for information purposes only. During the development of this press release, every effort has been made to provide only the most current, accurate and clearly expressed information possible. The data and information provided on our press release is for personal non-commercial usage. Neither the information or data presented on this site constitutes a solicitation or offer by DonRay Petroleum, LLC to buy or sell any products or services of any kind or to provide any investment advice or services. Additionally, DonRay Petroleum, LLC disclaims any responsibility for errors or typos and the accuracy of any information found on third party websites. DonRay Petroleum, LLC does not provide specific investment advice to any individual reviewing our website.
Media Contact
Company Name: DonRay Petroleum, LLC
Contact Person: Ray Corbitt, Jr.
Email: Send Email
Phone: 405-418-4348
Address:2525 NW. Expressway, Suite 640
City: Oklahoma City
State: OK
Country: United States
Website: http://donraypetroleum.com