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FINDINGS OF FACT
Some of the facts have been stipulated and are so found.
The stipulation of facts and attached exhibits are incorporated
herein.
When petitioner filed his petition, he resided in the
vicinity of Fairbanks, Alaska.
Petitioner has a degree in petroleum production engineering.
Prior to beginning a drilling business in 1978, petitioner spent
approximately 20 years in the petroleum industry as a drilling
engineer.
The First Drill Rig
In December 1978, petitioner purchased a used Hughes Auger
drill rig for $76,181 and commenced a drilling business that he
called "De Boer Drilling Co."3 Petitioner's rig, rather than
being used to drill for oil, was used to drill large diameter
foundation support holes for construction projects, as well as
the holes needed to start oil wells. During the years 1978
through 1981, petitioner operated the drill rig on a contract
basis for oil companies and construction companies on the north
slope of Alaska. Petitioner performed drilling work for such oil
companies as Alyeska Oil Co., Atlantic Richfield, and British
3The first drill rig is a Model TAP-50, approximately 12
feet wide and 70 feet long and weighing approximately 150,000
pounds. This drill is capable of drilling to a depth of
approximately 60 feet.
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Last modified: May 25, 2011