Default method of valuation

8.1. When the producer does not file a complete return for a well on or before the August 1 due date of the return, as required by §11-6K-1 of the West Virginia Code, and section heading 9 of this rule, the Tax Commissioner shall use the average industry price of the producing area and strata, multiplied by the amount of production from the well reported to the West Virginia Department of Environmental Protection, to estimate the value of the well.

8.2. When the producer does not report the production of a well to the West Virginia Department of Environmental Protection, the Tax Commissioner shall estimate the appraised value of the well from information available to the Tax Commissioner.