Oil, gas values may drop 45%

   Estimated Matagorda County oil and gas values have dropped 30 percent – and possibly as much as 45 percent – from last year, according to preliminary projections from Vince Maloney.
   Matagorda County Appraisal District Chief Appraiser, Maloney said those estimates are from P&G Engineering, the firm MCAD hires to appraise oil and gas properties.
   “The engineers started with about a 30 percent reduction in the oil and gas values,” Maloney said.
   “When I give the estimated values to the (taxing) jurisdictions, prior to mailing out the Notice of Appraised Value, I ask P&A how good are their numbers. They told me to hold out another 15 percent to be safe.
   “We will know more after the oil companies have brought in their information and talked to P&A.”
   The estimated numbers are a starting point for taxing entities as they start planning their budgets for the 2015-16 fiscal year, Maloney pointed out.

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