LEADERS IN OIL AND GAS PROPERTY TAX

For over 35 years, the KE Andrews oil and gas property tax division has been saving our production clients millions of dollars annually in tax.  Over the years we’ve assembled a team of oil and gas industry experts including geologists, petroleum engineers, and chemical engineers, all of whom have played an integral part in creating proprietary valuation systems that are unmatched.  Our advanced capabilities translate into tax savings for our clients over and above what they’ve experienced by either outsourcing or doing it themselves.  Our goal is to provide real value in terms of dollars year after year that exceeds expectations on an ongoing basis.  As a result of our highly qualified industry specialized staff, advanced systems, and superior customer service, KE Andrews currently represents a large portion of the oil and gas market, including over 30% of the leases in TX and LA, and over 41% of the wells in the Rocky Mountain region.  Please contact us if you’d like a free evaluation of your tax position.

Over the years, KE Andrews has built proprietary state-of-the-art property tax software that is designed specifically for the process of oil and gas and real estate valuation.  It has been built to produce a maximum tax savings situation for our clients, along with providing administrative advantages that are unmatched in the industry.

Our oil and gas property tax consultants analyze and negotiate your production assets aggressively to come to a fair market value for assessment. There is a wide range of assessment techniques applied to oil and gas assets, depending on the state of location.  Some states use a DCF model where negotiation plays a large role, while others are more compliance heavy with specific rendition filing requirements and regular audits.  KEA retains experts in every state where oil and gas assets reside.  We are prepared to handle oil and gas clients of all sizes seamlessly, becoming your property tax department down the hall.

In many states, third-party appraisers such as Pritchard and Abbott or TYP are contracted by the counties to value oil and gas assets will issue an opinion of value along with their appraisal parameters for review prior to submitting a final tax roll to the county.  Our oil and gas property tax consultants will analyze every single lease aggressively to ensure a fair market value for assessment.  Many times, disagreements in value arise between the taxpayer/agent and third-party appraiser. Unlike a typical CPA, we understand how to value these assets. We make every effort to negotiate with these appraisers on your behalf on the front end before having to file an appeal.  More times than not, we come to a fair agreement before having to engage in the formal appeals process.  This is a result of the relationships we’ve established with third-party appraisers and local assessors all over the country that span decades. Ad valorem tax oil and gas, we can help.

In most states, either after an initial informal negotiation period or after the filing of a rendition, the assessor issues a ‘Notice of value’ (NOV) to the taxpayer.  In cases where a rendition was filed, KE Andrews will review every single NOV to ensure accuracy and will contact counties for corrections in cases where there are errors.  In cases where a state uses the DCF model to value properties, every single oil and gas property tax NOV is reviewed along with an aggressive analysis of each lease, and our appraisers determine cases where an appeal is warranted.

When an agreement is not reached in the informal negotiation period with the assessor or third-party appraiser, and certain NOV’s are issued that we determine to be unfair, we will file a formal appeal with the county and prepare to present a case before the local board of assessments.  We make it a point to go to board hearings every year, firstly because many times we are able to again negotiate and come to an agreement immediately prior to the hearing, and secondly, we feel it is important to meet the assessors and third-party appraisers in person to establish and maintain a healthy working relationship.  KEA maintains a highly successful track record when presenting oil and gas cases at board hearings. Ad valorem tax oil and gas, we can help.

After board hearings are complete, values become finalized.  At this point, KE Andrews is able to compile tax accruals for our clients based on the final values issued by the county.  Accrual reports are issued at minimum once per year after values are finalized, but they can be updated at different points throughout year at the client’s request.

After values are finalized, tax bills are issued by the county treasurer or tax collector, along with other taxing jurisdictions.  Oil and gas property tax due dates vary by state.  KE Andrews is here to review every single tax bill for accuracy and will process it to the client for timely payment.  We have adopted several methods to execute the tax payment process. Ask us about our “KEA Administrative Advantages.” Ad valorem tax oil and gas payments are something we process each year.

KE Andrews has over the years retained the most knowledgable oil and gas specialized SUT and Severance Tax teams in the country.  Many oil and gas companies chronically overpay severance taxes and sales & use taxes, and we are here to help.  We don’t subscribe to low hanging fruit methods here at KEA.  Rather we do a deep dive into all of your records to create a maximum tax recovery situation.  If you are worried you have overpaid these taxes and would like to recover lost tax dollars, contact us for a review today! Ad valorem tax oil and gas, we can help.

KE Andrews maintains a SOC1 Type 2 every year.  This is an audit of our processes and controls, ensuring that we do what we say we are doing year after year.  These audits are extremely valuable to publicly traded companies that require SOX compliance.

ad valorem tax oil and gas

REP OVER 30% OF TX LEASES (OVER 45,000)

  • KEA Representation
  • O&G Majors
  • Other

REAL RESULTS

Year 1 savings in tax for a large Oil & Gas client

$19,500,000

SEVERANCE TAX

ad valorem tax oil and gas

While our oil and gas property tax division is our largest group, our Severance Tax Division has generated over $31,000,000 in refunds over the last three years for our clients. There are many exemptions state by state that can be exempt from severance tax. Come and discover why our Severance Tax group is one of the most well respected in the industry.

SALES AND USE TAX

ad valorem tax oil and gas

KE Andrews’ Sales and Use Tax reviews are second to none in oil and gas.  We have the experience and industry knowledge required to quickly understand your operation creating a maximum tax savings scenario. We have performed countless reviews and have received refunds in excess of millions of dollars. Our people and expertise drive results for your business.

WE REPRESENT OVER 41% OF ALL LEASES IN THE ROCKY MOUNTAINS

Rocky Mountain Territory

REAL RESULTS

Tax savings for an operator with 150 RRC #'s

$2,850,000

OIL AND GAS PROPERTY TAX EXPERTS, READY TO HELP YOUR TEAM

ORGANIZATIONS WE'RE AFFILIATED WITH

VALUATION - TAX - SOLUTIONS

  • Ad Valorem Tax Representation
  • Sales & Use Tax Review
  • Severance Tax Review
  • Purchase Price Allocation and Business Valuation
  • Due Diligence Review