Energy—Oil Field Tax Services and Frac Sand
At Industrial Tax Consulting, we offer comprehensive property tax services tailored to the unique demands of the oil and gas industry, with a special focus on the properties situated in the dynamic landscape of Texas (in the major plays throughout Texas and the United States). As a cornerstone of the Permian Basin’s oil and gas production hub, we bring unrivaled expertise to the heart of your business. Our seasoned oil and gas property tax advisors are equipped to navigate the intricate terrain of property taxes within the energy industry, offering an extensive suite of services, including litigation representation and dispute resolutions. The oil and gas sector is no stranger to volatility, and with governmental regulations and jurisdiction-specific assessment rules in constant flux, it takes a specialized touch to manage your tax liability effectively. That is where Industrial Tax Consulting can help.
Free Consultation
If you have any questions regarding our services, please fill out this form, and we’ll reach out to you as soon as possible to schedule a free consultation.
Services
Property Tax Consulting
Our dedicated team of experts is well-versed in the complexities of property valuation, taxation regulations, and the jurisdictional nuances that characterize this dynamic sector. From comprehensive appraisal of your assets and operations to strategic litigation representation and dispute resolutions, we ensure that your property tax liabilities are managed optimally.
Business Personal Property
ITC is equipped to comprehensively assess and evaluate your business’s tangible personal property, including equipment, machinery, pipe stock, vehicles, and even pipelines. Leveraging our industry-specific expertise, we ensure accurate and optimized property tax evaluations that align with the unique demands of your operations within the energy sector.
Site Selection and Tax Incentives
Our expert team evaluates various criteria to identify optimal locations for your operations, considering factors such as local tax incentives, regulatory environments, and infrastructure accessibility. We leverage our industry-specific insights to help you make informed decisions on the placement of your facility that can lead to substantial tax advantages and operational efficiency.
Pollution Control and Other Exemptions
Our TCEQ pollution control and other tax exemption services are tailored to assist your businesses in navigating the complex landscape of environmental regulations while optimizing all potential tax advantages that might be available to your specific industry. Our team of property tax exemption experts is dedicated to identifying any, and all, applicable pollution control exemptions and other tax incentives that so often times go unnoticed by taxpayers. By doing so, ITC not only ensures your operations align with your desired corporate environmental stewardship goals but does so while simultaneously reducing tax liabilities by maximizing any available property tax exemptions you might qualify for.
Valuation and Financial Reporting
We recognize the diverse range of assets within the energy sector, from pipelines and drilling rigs, all the way to solar panels and wind turbines, at ITC we offer a comprehensive approach that considers all facets of your business. By partnering with ITC, you gain a strategic ally with over 20 years of nationwide property tax consulting that provides precise valuations and empowers informed financial decisions in this ever-evolving industry.
Sales and Use Tax
We are well-versed in navigating the intricacies of sales and use tax compliance, ensuring your operations adhere to ever-changing tax codes. Whether it’s equipment acquisitions, project expansions, or supply chain management, we provide insightful guidance to minimize tax liabilities while optimizing operational efficiency.
Issues Impacting the Appraisal of Texas Oil and Gas Producing Properties
- Is the projected production rate and decline in line with historical reality?
- Does the appraisal’s discounted cash flow consider the methodology for statutory oil and gas pricing?
- Is the estimated annual lease operating expense a realistic cost that accounts for inflation?
- Have occasional capital expenditures like workovers been taken into account?
- Are there any undisclosed well failures that the appraiser might not be informed about?
- Is the appraisal using the accurate working interest decimal ownership?
- Do the equipment salvage values encompass future expenses for good abandonment and site remediation?
Areas of Service
Upstream
Asset appraisal of producing oil and gas leases.
Downstream
Chemicals, refining, gas processing, and NGL plants.
Midstream
Pipelines, crude oil terminals, truck loadout stations, and compressor stations.
Subsea Equipment
Wellheads, control systems, turbomachinery, pipes, trees, and manifolds.
Disposal Companies
Remediation, NORM, recycling, drilling fluids, and saltwater disposal wells.
Exploration
Seismic and geophysical equipment.
Well Servicing
Workover rigs, wirelines, pressure pumping, fracking, cementing, and trucking.
Rentals
Fishing tools, submersible pumps, mobile equipment, and compressors.
Proppants
Sand mines, trans-loading facilities, transportation assets.
Crane and Construction
Heavy construction equipment and mining equipment.
Oilfield Manufacturing
Pipe, downhole tools, and vessels.
Actual ITC Client Success Studies
Client
Client’s power plant originally noticed at $55,636,300 was reduced by our team to a settled value of $19,833,645.
Result
Assessment reduction of $35,802,652
Tax Savings
$823,595
Free Property Tax Optimization (PTO) Consultation
If you have any questions regarding our services, please fill out this form, and we’ll reach out to you as soon as possible to schedule a free and non-committal Property Tax Optimization (PTO) consultation.
Frac Sand
As seasoned property tax consultants within the oil and gas industry, we share a profound understanding of the challenges that define the backbone of the energy industry and oilfield companies. Our unwavering commitment centers on shielding you from excessive tax burdens, consistently striving for optimal tax reduction. Whether you’re engaged in frac pump and hose manufacturing, fracking operations, or mining ventures, our meticulous analyses and appraisals wield the power to transform your tax outlook. As you vigilantly oversee your production, we diligently safeguard your financial bottom line by curbing tax assessments and liabilities. Beyond our expertise, we offer comprehensive litigation representation, ensuring your interests are vigorously pursued until a satisfactory resolution is achieved.
Example of Results
Client
In 2020, our frac sand clients in Winkler County were paying too much in taxes.
Result
We saved our Winkler County clients alone approximately $2.2 million in property tax.
Tax Savings
Reduction of 78%
Client Testimonials
“Mark brought together a highly skilled team to make certain that Nabor’s only paid its’ fair share of property tax. They have impressed us with the level of commitment, the sense of professionalism, and the significant tax savings that Mark and his team have provided.”
“Along with years of experience and expertise consulting on all matters related to property value, Mark and his staff of consultants provide a level of comfort for their client that is second to none. Industrial Tax Consulting previously provided guidance on valuation and inventory which netted GE significant savings.”
Why Choose ITC?
Choose Industrial Tax Consulting as your trusted property tax partner because we bring more than expertise—we bring over 20 years of tailored tax minimization solutions that are designed to fuel your success. With an unwavering commitment to the energy, oil and gas, and renewables industry, our team possesses an intimate understanding of your unique challenges and opportunities. We go beyond standard tax services, offering a comprehensive suite of property tax minimization solutions meticulously crafted to align with the demands of your sector regardless of where you operate.
From strategic site selection and tax incentives to pollution control exemptions and obsolescence studies, our industry-focused approach ensures you gain a competitive edge. Backed by a strategic presence at the heart of Texas’ energy hub, ITC is uniquely poised to deliver insights and outcomes that matter. Choose us for expertise that doesn’t just meet expectations but exceeds them, driving your business forward in a landscape defined by change and opportunity.
Other Industries We Serve
