2008
Valuation Schedules
Class
20 – Petroleum & Natural Gas Exploration and Production
Equipment
Examples of
Class 20 Property Include:
| Oil
& Gas Exploration Equipment |
Equipment
Sheds |
| Distillation
Equipment |
Free Water
Knockouts |
| Wellhead
Assemblies |
Scrubbers |
| Holding
& Storage Facilities |
Petroleum
Pumping Units |
| Drill
Rigs |
Manifolds
/ Headers |
| Re-injection
Equipment |
Recycle/Recirculating
Pumps |
| Gas Lines
& Compressors |
Radio
Telemetry Units (RTU) |
| Metering
Devices |
Support
& Control Equipment |
| Heater
- Treaters |
Separator-Dehydrators |
| Fractionation
and Catalytic Cracking Equipment |
Well Site
Generators, Transformers & Power Lines |
The
following schedule is recommended for valuing Class 20 property
in the 2008 assessment year:
|
Year of Acquisition |
Percent Good of Acquisition Cost |
| 2007 |
98% |
| 2006 |
97% |
| 2005 |
94% |
| 2004 |
93% |
| 2003 |
85% |
| 2002 |
77% |
| 2001 |
68% |
| 2000 |
59% |
| 1999 |
50% |
| 1998 |
40% |
| 1997 |
31% |
| 1996 |
21% |
| 1995 and
prior |
11% |
Class 20,
Petroleum and Gas Exploration and Production Equipment, is defined
as:
Equipment used
in the petroleum and gas exploration and production industry subject
to significant functional and economic obsolescence due to the volatile
nature of the petroleum industry.
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