Enhanced Oil Recovery Act of 1991

[AI summary unavailable — showing source text] Enhanced Oil Recovery Act of 1991 - Amends the Internal Revenue Code to deny the deduction for intangible drilling costs in the case of oil and gas wells and geothermal wells with respect to any well located within the Alaska National Wildlife Refuge. Allows deduction of such costs for any injection wells drilled as part of a qualified enhanced oil recovery project. Establishes a formula to base the enhanced oil recovery credit on the price of oil. Allows the use of the percentage depletion deduction for domestic crude oil resulting from tertiary enhancement recovery methods of cyclic microbial injection and other types of permeability modification treatments. Specifies new processes to be treated as tertiary methods.…