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Spring 2022

6386 Oil & Gas Tax - WRIGHT- 19121

Professor(s): Denney Wright (OTHER FACULTY)

Credits: 3

Course Areas: Taxation 
Energy, Natural Resources and Environmental Law

Time: 1:00p-2:30p  MW  Location: 119  TUII

Course Outline: Oil and Gas Income Taxation covers the United States federal income taxation of domestic oil and gas operations and transactions. The course examines taxation associated with the operational life cycle of oil and gas operations including exploration, development, production and abandonment. The study of transactions involving oil and gas interests analyzes acquisition, disposition, structuring and investment. Course participants learn the historical context and development of oil and gas provisions found in the U.S. tax law. Current tax legislative proposals or enactments that affect the oil and gas industry are addressed if warranted. The emphasis is on federal income taxation of domestic oil and gas transactions, although certain international tax aspects of the oil and gas business will be referenced and contrasted throughout the class.

Course Syllabus: Syllabus

Course Notes: (Synchronous Online)  The UH registration system instruction mode for this course is listed in parenthesis. After student registration in November, there may be instruction mode changes to this course up through Jan. 5th, 2022, but notice of such changes will be sent to then-registered students. Contrary to the UH information, some student materials may not be available online, such as an assigned casebook. A physical classroom may be assigned for this course to give students a location in the Law Center to join the virtual class sessions. If the course has a final examination, the final and any other assessment for the course, such as a mid term exam, will be conducted without the need to physically come to the Law Center, such as, for example, via the EBB portal as a take home exam or under remote proctoring.

This is an LL.M class, and JD students may register, if space is available.

Prerequisites:  Federal Income Tax & Oil and Gas Law are recommended

First Day Assignments:

Final Exam Schedule: Take home      

This course will have:

Satisfies Senior Upper Level Writing Requirement: No

Experiential Course Type: No

Bar Course: No

DistanceEd ABA: Prearranged

Pass-Fail Student Election: Available

Course Materials

Book(s) Required

Denney L. Wright, Oil and Gas Tax: A Comprehensive Study, Wolters Kluwer, 2019 Ed. (ISBN
Other Text Resources (supplements to required text for optional reference)

Wolters Kluwer Editorial Staff, Oil and Gas: Federal Income Taxation,
Wolters Kluwer, 2021 Ed. (ISBN 9780808054931)

Robert Polevoi and William H. Byrnes, IV, Federal Taxation of Oil and Gas Transactions,
Matthew Bender, (ISBN 9780820512808) (available in O'Quinn Law Library UHLC)