Ark. Code § 15-72-1003
Current with legislation from 2024 effective through May 3, 2024.
If the utilization of new research technology results in the increased production of crude oil by an active field, as established by the Oil and Gas Commission, then the total quantity of the incremental increase in crude oil produced as a result of the new technology shall be exempt from severance tax.
Ark. Code § 15-72-1003