Today the IRS released Notice 2015-45, which states that the reference price for nonconventional source production credits under § 45K(d)(2)(C) is $87.39 for calendar year 2014.  The reference price applies in determining the amount of the enhanced oil recovery credit under § 43, the marginal well production credit under § 45I, and the percentage depletion in case of oil and natural gas produced from marginal properties under § 613A.

The notice will appear in IRB 2015-26 dated June 29, 2015.