- 21 -21
Petitioner also relies on Rev. Rul. 93-54, 1993-2 C.B. 3,13
for the proposition that a well-category determination is not
necessary to qualify for the tax credit. In Rev. Rul. 93-54,
supra, the Commissioner held that if a well is drilled after
December 31, 1979, and prior to January 1, 1993, but is
"recompleted" after January 1, 1993, and if the "recompletion"
does not involve additional drilling to deepen or extend the
well, the production qualifies for the tax credit.14 Rev. Rul.
93-54, supra, however, does not concern the question of whether a
determination must be obtained under NGPA section 503 in order to
be entitled to the tax credit. The ruling assumes prior
qualification, and under the circumstances described, holds that
further qualification is unnecessary. It should also be noted
that petitioner's argument is also undermined by timing, because
the Commissioner issued this ruling after the repeal of section
29. Petitioner references other weaker arguments (analogous and
tangential materials) in support of its position that section 29
should not be read as requiring an individual well-category
determination by FERC. Petitioner's arguments individually or
13 It is noted that we treat the Commissioner's rulings as
having no more authority than that of the position of a party.
See Gordon v. Commissioner, 88 T.C. 630, 635 (1987); Estate of
Lang v. Commissioner, 64 T.C. 404, 407 (1975), affd. in part and
revd. in part 613 F.2d 770 (9th Cir. 1980).
14 Petitioner defines "recompletion" by means of the
example: "the well was later completed into a different,
shallower reservoir".
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