Janak Mayer says the Senate Finance rewrite of SB21 would put the level of government take for new entrants around 60 percent. He says it would be 62-63 percent for existing producers.
Critics say that's too big a give to companies now producing. Another consultant last year told lawmakers government take of 70-75 percent for existing operations was "reasonable," though maybe slightly high.
The Senate Finance version of the tax bill, unveiled Tuesday, calls for a 30 percent base tax rate and $5-per-barrel credit for oil produced. It also would provide a 10-year, 20-percent tax break for oil from new fields and new oil from legacy fields.