# OCC Notifications
**URL:** https://www.mineralrightsforum.com/t/occ-notifications/69628
**Category:** Garvin County, OK
**Created:** [February 4, 2023, 1:06am UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628 "2023-02-04T01:06:35Z")
**Posts on this page:** 10
**Page:** 1
### Author:  [@Shorty](https://www.mineralrightsforum.com/u/Shorty)
#### Post date: [February 4, 2023, 1:06am UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/1 "2023-02-04T01:06:35Z")
We recently received notification of two cases before the Oklahoma Corp Commission for “Relief Sought: Horizontal Drilling and Spacing Units” and another one for “Relief Sought: Multiunit Horizontal Well.” Section 35, Township 1N, Range 2W Garvin County
Can anyone explain what these requests are and what they indicate? Bottom line, does it appear Continental Resources is likely to drill in this section soon of Garvin County?
Thank you.
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### Author:  [@Randy3](https://www.mineralrightsforum.com/u/Randy3)
#### Post date: [February 4, 2023, 2:06pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/2 "2023-02-04T14:06:41Z")
You have a well there which is proven or producing products and most likely is or approaching the age where it’s now more financially and economically viable to drill more wells in its area, and most likely will have an effect on the one well.
I have a similar case that’s been going on for nearly nine months now, so hang tough, you’ll be getting offers from mineral buyers seeking to make a profit.
I’m getting offers all the time; they started at six thousand, now they’re at ten five, so tempting but after taxes I’m only getting middle of eight, so it’s not really a fair price compared to what I’ll make after they drill.
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### Author:  [@Shorty](https://www.mineralrightsforum.com/u/Shorty)
#### Post date: [February 4, 2023, 4:11pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/3 "2023-02-04T16:11:30Z")
Thanks. It’s not my land or rights, but I doubt the owner has any interest in selling at this time. I’ll let him know the notices are promising but to sit tight and keep his fingers crossed.
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### Author:  [@TODD\_M\_Baker](https://www.mineralrightsforum.com/u/TODD_M_Baker)
#### Post date: [February 4, 2023, 11:39pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/4 "2023-02-04T23:39:41Z")
Remember that you will pay regular income taxes on the royalties and generally capital gains tax rates are a lesser percentage than regular income tax rates. I’m not suggesting one way or another as that is everyone’s personal situation decision.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [February 6, 2023, 8:45pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/5 "2023-02-06T20:45:24Z")
And savvy mineral owners also apply for the 15% depletion credit on the royalties. So factor that in.
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### Author:  [@Rick\_Rademaker](https://www.mineralrightsforum.com/u/Rick_Rademaker)
#### Post date: [February 7, 2023, 3:44pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/6 "2023-02-07T15:44:34Z")
Martha, would you explain what this 15% depletion credit is? It appears I’m not too savvy. Not asking for legal advice.
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### Author:  [@M\_Barnes](https://www.mineralrightsforum.com/u/M_Barnes)
#### Post date: [February 7, 2023, 5:32pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/7 "2023-02-07T17:32:40Z")
Better to ask your accountant! Just like you can depreciate a tractor or building or equipment, oil and gas production is a depreciating asset. You can take a federal depletion credit of 15% against your taxes under the right conditions. My accountant has been doing it for years for us. You may be able to take a state credit as well.
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### Author:  [@Marty\_S](https://www.mineralrightsforum.com/u/Marty_S)
#### Post date: [February 7, 2023, 8:33pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/8 "2023-02-07T20:33:05Z")
I am not an accountant but you can go to [irs.gov](http://irs.gov) and search for Publication 525 (2022) and see the royalty depletion rules on page 17.
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### Author:  [@Rick\_Rademaker](https://www.mineralrightsforum.com/u/Rick_Rademaker)
#### Post date: [February 7, 2023, 8:54pm UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/9 "2023-02-07T20:54:58Z")
Thanks Martha, I will see what he recommends.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [May 5, 2023, 1:06am UTC](https://www.mineralrightsforum.com/t/occ-notifications/69628/10 "2023-05-05T01:06:43Z")
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