Your responsibility, in the area of oil and gas appraisal, is to assess the value of oil and gas properties for ad valorem property tax purposes. Each state usually proscribes the evaluation
method, with two major approaches to oil and gas properties being common: basing the assessment on the level of prior production or using a discounted cash flow model to project the future value.
R3's economic evaluation and decline analysis has been used extensively by state tax commissions across the country for accurately evaluating oil and gas properties. It offers the speed necessary to analyze and
appraise large volumes of properties, and will improve the consistency of your economic evaluations.