Form 8904 - Credit for Oil and Gas Production From Marginal Wells

Internal Revenue Code (IRC), Section 45I, provides guidance for claiming the credit for producing oil or natural gas from marginal wells. Notice 2021-34 provides the applicable reference price ($2.55 er 1,000 cubic feet) for qualified natural gas production from qualified marginal wells during taxable years beginning in calendar year 2019, for purposes of determining the marginal well production credit (MWC) under section 45I. PL 108-357, section 341 defines how the marginal well production credit for any taxable year is determined.

The latest form for Form 8904 - Credit for Oil and Gas Production From Marginal Wells expires 2028-01-31 and can be found here.