Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

KPMG report: Avoiding common pitfalls in oil and gas reserve valuations for U.S. tax purposes

The key to an oil and gas company’s compliance with U.S. tax reporting requirements is performing impartial valuations of the FMV of its assets.

Download PDF
January 26, 2024

Oil and gas businesses often actively seek acquisitions to expand their oil and gas reserve base, enhance operational efficiencies, and grow shareholder value. For these businesses to comply with U.S. tax reporting requirements for fair market value (FMV) of the assets, they require impartial valuations. Companies preparing income-based valuation analyses often wrestle with recurring and challenging issues specific to the oil and gas reserves.

A close examination of these commonly seen issues/pitfalls can help acquirers estimate the FMV of oil and gas reserves for U.S. tax purposes.

Read a January 2024 report* [PDF 169 KB] prepared by KPMG LLP tax professionals: Avoiding Common Pitfalls in Oil and Gas Reserve Valuations

* Reproduced with permission from Tax Management Memorandum, 65 TMM 05, 01/25/2024. Copyright ® 2024 by Bloomberg Industry Group, Inc. (800-372-1033) http://www.bloombergindustry.com

Thank you!

Thank you for contacting KPMG. We will respond to you as soon as possible.

Contact KPMG

Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

An error occurred. Please contact customer support.

Job seekers

Visit our careers section or search our jobs database.

Submit RFP

Use the RFP submission form to detail the services KPMG can help assist you with.

Office locations

International hotline

You can confidentially report concerns to the KPMG International hotline

Press contacts

Do you need to speak with our Press Office? Here's how to get in touch.

Headline