The IRS has published the reference price under Code Sec. 45K(d)(2)(C). The credit period for the nonconventional source production credit under Code Sec. 45K ended on December 31, 2013, for facilities producing coke or coke gas (other than from petroleum-based products). However, the reference price continues to apply in determining the amount of the enhanced oil recovery credit under Code Sec. 43, the marginal well production credit for qualified crude oil production under Code Sec. 45I, and the applicable percentage under Code Sec. 613A to be used in determining percentage depletion in the case of oil and natural gas produced from marginal properties. The reference price for calendar year 2025 is $63.40.
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