To amend the Internal Revenue Code of 1986 to treat geological, geophysical, and surface casing costs like intangible drilling and development costs, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that in the case of oil and gas wells, the tax treatment which applies to intangible drilling and development costs shall also apply to surface casing costs and to geological and geophysical costs for the purpose of ascertaining the existence, location, extent, or quality of any deposit of oil or gas within the United States or a possession of the United States.…