Garvin County, OK - Oil & Gas Discussion archives

We bought an old lease at one time years ago and my husband and brother-in-law went over and cleaned up the locations themselves. They also did the work on the wells themselves as we had the little rig to do it with. Later when we sold the wells we had to count everything they made over what we paid for them as profit. Our accountant said we should have hired them cleaned up because we couldn’t deduct our own labor off of what they made. That was when oil was really cheap so we really didn’t make much at all on the wells and they worked like a sled dog. Lesson learned! lol