Notice 2024-51, page 1790.

This notice publishes the reference price for the nonconventional source production credit under § 45K of the Internal Revenue Code (Code) for calendar year 2023. Section 45K(d)(2)(A) provides, in general, that the Secretary shall determine and publish in the Federal Register the inflation adjustment factor and the reference price for the preceding calendar year for purposes of the nonconventional source production credit under § 45K. The credit period for the nonconventional source production credit ended on Decem

ber 31, 2013, for facilities producing coke or coke gas (other than from petroleum-based products). Therefore, this notice does not publish the inflation adjustment factor for that credit for calendar year 2023. However, the reference price continues to apply in determining the amount of the enhanced oil recovery credit under § 43, the marginal well production credit for qualified crude oil production under § 45I, and the percentage depletion in case of oil and natural gas produced from marginal properties under § 613A. Accordingly, this notice publishes the reference price for calendar year 2023.