Well Tab:
The APINO is the ‘Master ID’ for a particular well. It is from the API as listed on the WYOGCC website that we draw most of the information listed on the Well tab. The Legal Text column will indicate the well spud date and any associated Well Pad. The WellNo column is used to indicate associated Well Pads.
Equipment Tab: (Left Side)
Equipment Tab (Right Side)
The IdNo is used to indicate associated Well Pads. This is column you should do your primary sort by to group all wells associated with a particular well pad. UnitDesc is almost always “1”. The number used in “Quantity” will be used to multiply the AcqCost to arrive at a total Initial Cost. That number will then be trended and depreciated to arrive at OGVal.
IMPORTANT THINGS FOR YOU TO KNOW
IdNo – The column being primarily used to allow sorting by ‘Well Pad.’
Quantity – The total number of that particular item with the same ACQYR and ACQCOST. The number in this column will be multiplied by the number in ACQCOST to arrive at a total value for the line. The computer program will take that total value and apply life, valuecode, condition, typefactor, percgood and depreciation factors to arrive at a current OGVAL for that line.
SizeDesc – Typically entered from information reported by the company - or obtained from label plates on the equipment during field inspections.
PressureCpty – We are using this column as a way to record the Month and Year that an on-site physical inspection of that well was conducted by our office.
AcqYr – The year built. Determines the start time for depreciation.
AcqCost – Installed Cost. Includes Equipment Cost + Transportation/Shipping + Installation
WellName – If the word “PAD” is used in the WellName that indicates that particular well is associated with a Well Pad.
APINO - The ID number for a particular well. Takes precedence over ‘Well Name’. Comes from the Wyoming Oil and Gas Commission. Click on Wells, the last entry of the third column, and you can search for a great deal of information. “By API Number” is the easiest way to find a particular well.
Enter the API # as 35NNNNN (no leading zero or spaces). But the “Plot Nine Section Area” works well too - especially for identifying associated wells on a “Well Pad”
OGType – Comes from a predetermined pull down list. It is directly related to the LIFE column which indicates the equipment life. Together they determine which depreciation table the computer will utilize for that piece of equipment. Note: Oil Rigs DO NOT depreciate.
ValueCode – Defaults to ‘C’ (Cost) but can be changed from a pull down list to Market, RCN, Penalty, Salvage, Override or BIA Market. Once a piece of equipment reaches its Residual Value (normally 20% reached at the end of its ‘Life’ year), this will automatically change to an ‘S’ (salvage) value even if the equipment is still in use.
Condition – The Condition column defaults to ‘A’ (Average) but can be changed from a pull down list to Excellent, Good, Fair or Poor.
TypeFactor – Programmed in by the Department of Revenue. This number is used in the calculations getting from QUANTITY X ACQCOST X (in between calculations) to get to OGVal. Note: If an item has a TYPEFACTOR greater than ‘1’, the result may be an OGVAL that is greater than ACQCOST the first few years of the equipment’s life.
Click here for additional information about valuation and depreciation schedules provided by the Wyoming Department of Revenue.
ASSESSEDVAL – OGVAL (current market value) X assessment rate (11.5%). To estimate actual taxes take this number X the mill levy (about 60 mills - 6% - is typical) and it will be pretty close. The actual mill levy is set each year by the County Commissioners after public budget hearings and varies among the different county tax districts. This process usually completes in early August.
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