Tax services firm Ryan has acquired EnerTax Consultants to expand its severance tax practice into one of the biggest in the U.S.
The acquisition of the Houston-based firm adds a team of tax specialists with experience in reducing severance tax liabilities for large oil and gas exploration and production companies. It also adds a number of Fortune 500 companies to Ryan’s client base.
When natural resources are extracted, or “severed,” from the earth within a taxing jurisdiction, severance taxes are incurred. While crude oil and natural gas make up the majority of severance tax collections in most tax jurisdictions, other resources such as coal, timber, and metals (including uranium) are often subject to severance tax as well.
“This strategic acquisition adds substantial capabilities to our severance tax practice to meet the increasing demand for Ryan’s tax services in the oil and gas industry,” said Ryan chairman and CEO G. Brint Ryan in a statement. “Ryan and EnerTax clients will benefit tremendously from the unparalleled tax knowledge and expertise of our newly combined team of tax professionals, and we look forward to delivering them the highest levels of client service, value, and results.”
Matthew Travis, Sloan Smalley and Jonathon Travis, partners of EnerTax Consultants L.P., will join Ryan as principals. Matthew Travis, a former Ryan employee, will also assume the role of Ryan severance tax practice leader. Travis has more than 14 years of state tax experience with an emphasis on severance tax, well incentives and tax return compliance.
