OilBoomUSA Partners Finding Success in Exploration and Innovation
SAN ANTONIO, TX / ACCESSWIRE / July 24, 2014 / Nakoma Exploration, the parent company of OilBoomUSA.com, announced that year to date revenue from oil wells in 2014 is over $14 million, bringing the gross revenue from all Nakoma wells to over $205 million dollars. OilBoomUSA currently has 8 wells that have produced between $10 and $20 million dollars, with one well here in the US topping $45 million.
OilBoomUSA.com partners with accredited investors, allowing Americans to own an oil well here in the United States. In addition to the tremendous tax benefits under a 1913 Federal law allowing a rare deduction (usually most of the investment) against "ordinary income" such as wages, commissions, and partnership distributions, OilBoomUSA partners can also take pride in the knowledge that oil exploration in the US also creates hundreds of thousands of jobs.
With US energy production booming, Sen. Lisa Murkowski (R) of Alaska is spearheading the movement to overturn a ban on US crude oil exports that has been in place for more than 40 years. The Senator met with the Obama administration to discuss ending the oil export ban. "Condensate exports are an easy first step on the road towards a wider lifting of the oil export ban," Senator Murkowski said in a statement last week. "Simply put, we are producing more condensate than we know what to do with, but customers overseas would be happy to take it off our hands."
OilBoomUSA.com favors opening more markets for US oil, as well as protecting the 1913 exception, where a partner can either expense or capitalize these costs if the gas or oil on property is located in the U.S. Expensing these drilling costs is critical for the exploration and development of new sources of oil and gas. In addition, an energy research group is reporting that if Congress should reverse a 40- year ban on oil exports it would add more than $1 trillion to government revenues through 2030. The move would also trim fuel prices, and add an average of more than 300,000 jobs a year.
Nakoma Exploration, LP, the parent company of OilBoomUSA.com, is a growth oriented, independent oil and gas company headquartered in San Antonio, TX. They have more than twelve years of experience in drilling and exploration, managing more than seventy joint venture drilling projects in over five states. Nakoma has drilled in the most famous oil plays in the US; from the Bakken shale in Montana and the Eagle Ford shale in south Texas, to the Mississippian lime in Oklahoma and Kansas. They have also drilled many successful deep wells in southern Louisiana, with plans to drill more. Nakoma’s mission is to find and develop new sites that will not only benefit us economically, but keep America strong and safe for generations.
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