Tax-Smart Growth Strategies for Oil and Gas

This white paper discusses the implications of the One Big Beautiful Bill Act (OBBBA) on tax strategies for oil and gas companies. It outlines key provisions of the OBBBA, including the restoration of 100% bonus depreciation, the treatment of intangible drilling costs, and the acceleration of project reviews under NEPA. The paper highlights how these changes create both opportunities and complexities for tax teams, necessitating advanced scenario planning and cross-functional capital alignment. It details the challenges posed by increased investment, including the management of diverse asset classes, the need for precise book-to-tax tracking, and the complexities introduced by joint ventures. The document emphasizes the importance of automated tax processes to mitigate compliance risks and enhance strategic agility. Furthermore, it presents PowerPlan as a solution designed to support tax leaders in navigating these changes, enabling efficient tax compliance and strategic capital planning in a rapidly evolving regulatory landscape.