DALLAS, Dec. 1, 2015 /PRNewswire/ — Patriot Energy, Incorporated, based in Dallas, TX, announces tax reduction options for accredited investors needing to reduce 2015 income tax obligations.
As the year quickly draws to a close, many investors are left with sizeable tax burdens and few remaining options with which to reduce them. Patriot Energy is offering units in its Cole #1 well in the Permian Basin, which was drilled previously and is scheduled to be fracked this month. Intangible drilling costs, the majority of those expenses associated with drilling and completing a well, can be 100% deducted against active income in the year they are incurred.
“This is an excellent end-of-year option for many investors to reduce their taxes, and position themselves at a market bottom. As we saw again last week, we’re in a tinderbox globally, and any unrest could trigger a major spike in oil prices. The Cole #1 well is positioned to go into production at just the right time, when prices could certainly go up quickly,” said Michael Miller, Patriot Energy’s founder and President.
For real estate investors, the company’s Royalties division has properties that qualify as ‘like kind’ and can be used for Section 1031 exchanges to defer taxes.
More is available from the Patriot Energy website or by calling 888-251-7644.
About Patriot Energy, Inc.
Patriot Energy, Inc. is a private, independent oil and gas company specializing in working interests and royalty interests for private accredited investors. Based in Dallas, Texas, Patriot Energy is engaged in the development of high-probability, lower risk onshore oil and gas properties. The Company’s growth strategy primarily relies on leveraging management’s technical and operations expertise to offer non-operating working interests and royalty interests to accredited investors and institutions. Patriot Energy is currently focusing in the Permian Basin of Texas. Additional information is available at http://www.patriotenergy.com/.
MEDIA CONTACT: Thomas Miller, VP Communications, 469-453-7000
For more info please visit: http://www.patriotenergy.com/
SOURCE Patriot Energy, Inc.