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this page intentionally left OF CONTENTSOIL AND GAS INDUSTRYI ndex to ixChapter 1, Oil and Gas 1-1 General Description of the 1-2 Mineral 1-2 Acquisition Through Mineral 1-2 Acquisition in 1-3 Property 1-7 Types of Ownership 1-8 Tract or 1-8 Separate 1-8 Accounting 1-9 Successful Efforts 1-9 Full Cost 1-11 Accounting 1-12 Chapter 2, Oil and Gas Industry IssuesIssues Related to an Oil and Gas Entity and Activity -- 2-1 Unproductive 2-1 Productive 2-1 Unique 2-2 Uniform Capitalization 2-4 Assistance in IRC Section 2-5 General Issues [Non-Oil and Gas].
The oil and gas industry has been in an economic slump since the mid-1980's. There have not been significant domestic explorations that have been successful.
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