LAC 61:V.903 — Instructions for Reporting Oil and Gas Properties

A. A separate LAT-12 form is used for each well lease or facility represented by a LUW (Lease, Unit, or Well) code, a six-digit code assigned by the Office of Conservation for the purpose of recording production. An attachment in lieu of the form is permitted only if information is in the same sequence. The LAT-12 form may be reproduced and used as an attachment; however, all attachments must be properly identified and attached to the original. Attachments may take the form of a single Excel file in lieu of a separate LAT-12 form for each well, lease, or facility, provided at least one LAT-12 form is submitted with the required signature(s).
1. Wells under the same assessment number are required to be listed in serial number order.
2. All additional supporting documentation is recommended to be attached to the LAT-12 in an order that allows for ease of review by the assessor.
B. The following data is useful in performing the DCF appraisal of the well(s) and leasehold equipment (production train) and is recommended to be provided with the LAT-12. The detail level will be based on the reporting level of the LAT-12 (well, lease, LUW, field, facility). See further guidelines in §905 (Reporting Procedures).
1. Primary product (oil or gas), total working interest (WI) decimal, total number of wells included, average depth, prior year average price for oil & gas received, operating expense for prior year, capital expense used to enhance production, decline rate, production rate, and any data to support limits or inhibitors to the asset.
2. Decline curves for field averages over time (“type curves”) are a useful tool in forecasting future production levels for individual wells/leases/LUW codes.
3. Any additional information that provides the anticipated performance of the assets included in the production train or the associated production should be considered.
C. Operators shall furnish a statement of lease operating expenses for the previous calendar year. This statement should correspond as closely as possible with the LAT 12 form(s) for each lease or facility (as stated above) and be in sufficient enough detail to indicate the extent and monthly timing of incurrence of various major categories of expense such as labor, power and fuel, salt water disposal, chemicals, materials and supplies, repair and maintenance, workovers, and district overhead.