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Industry Challenges

The oil and gas production industry is the most challenging field in which to make successful SR&ED (Scientific Research and Experimental Development) claims. The most obvious reasons for this are that:

  • The legislative definition of SR&ED excludes work with respect to “prospecting, exploring or drilling for, or producing, minerals, petroleum or natural gas” (Section 248(1)(h) of the Income Tax Act).
  • Many petroleum projects involve intricate legal structures such as partnerships, joint ventures, trusts, and other agreements. Specialized expertise is required in these instances to achieve SR&ED success.

These complications have led many oil and gas producers to discount the SR&ED program and likely explain why the Prairie Provinces have been historically underrepresented on a per capita and GDP basis.

The reality is that petroleum producers are, without question, eligible for SR&ED tax credits if the purpose of the work is technology development and the three eligibility criteria are met.

A Proven Track Record

TSGI has a proven track record in helping some of the top exploration and production corporations in Canada receive their fair entitlements under the SR&ED program. Here are some of the areas we’ve successfully claimed on behalf of our clients:

  • Shale gas technologies
  • Heavy oil/oilsands processes
  • Coal Bed Methane (CBM) and ECBM (enhanced CBM) extraction systems
  • Enhanced Oil Recovery (EOR) schemes
  • Conventional oil and gas extraction techniques
  • Upgrading processes

Top national and international E&P companies trust TSGI to guide their SR&ED claims to success. If you would like to know how SR&ED tax credits and TSGI can ramp up your innovation program, please contact us.

Our Client Experiences

 

  Tax Manager, Oil and Gas Exploration Production Corporation (+15B market cap.)

TSGI Consistently Outperforms JV Partner’s Big-4 Accounting Firm

We are proud of our reputation for achieving great results while controlling costs. In TSGI, we have found a SR&ED consultant that matches our company. Their no nonsense style, uncommon pro-activity, and dedication to their clients’ best interests are refreshing. Their expert team has successfully guided our company’s complex research claims through what is often a very challenging CRA environment. We appreciate TSGI’s initiative and professionalism and have observed instances where they have succeeded with projects that our joint venture partners failed to claim. These accomplishments have contributed significant benefits to our bottom line and speak to the superiority of TSGI’s capabilities.

View more Oil & Gas Producer feedback on our Testimonials page.