In 1992, I inherited the gas/oil rights to a small property in Upton County, TX from my father. Last year, it began producing. Then, I heard about the oil depletion allowance. My father left no records as to what he originally paid for this. Of course, whatever it was would be stepped up as of the 1992 date of his death.
QUESTION: How would I get an appraisal of the stepped-up 1992 value of my gas/oil rights so I can use the oil depletion allowance?
George Ley Va