Colorado Revised Statutes

Colo. Rev. Stat. § 39-7-101 (2026)

Statement of owner or operator

✓ current as of July 2026

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(1) Every operator of, or if there is no operator, every person owning any oil or gas leasehold or lands within this state, either as a single lease or as a unit, that are producing or are capable of producing oil or gas on the assessment date of any year, shall, no later than the fifteenth day of April of each year, prepare, sign under the penalty of perjury in the second degree, and file in person or by mail with the assessor of the county in which the wellhead producing the oil and gas leaseholds or lands is located a statement for the lease or unit. For purposes of this article, irrespective of the physical location of the producing leaseholds or lands, the point of taxation is the same as the point of valuation, which is the wellhead. The statement must be made on a form prescribed by the administrator, showing:

(a) The wellhead location thereof and the name thereof, if there is a name;

(b) The name, address, and fractional interest of the operator thereof;

(c) The number of barrels of oil, or the quantity of gas measured in thousands of cubic feet, sold or transported from the wellhead during the calendar year immediately preceding, after separately reporting the number of barrels of oil, or the quantity of gas measured in thousands of cubic feet, delivered to the United States government or any agency thereof, the state of Colorado or any agency or political subdivision thereof, or any Indian tribe as royalty during the calendar year immediately preceding;

(d) The selling price at the wellhead. As used in this article, "selling price at the wellhead" means the net taxable revenues realized by the taxpayer for sale of the oil or gas, whether such sale occurs at the wellhead or after gathering, transportation, manufacturing, and processing of the product. The net taxable revenues shall be equal to the gross lease revenues, minus deductions for gathering, transportation, manufacturing, and processing costs borne by the taxpayer pursuant to guidelines established by the administrator.

(e) The name, address, and fractional interest of each interest owner taking production in kind and the proportionate share of total unit revenue attributable to each interest owner who is taking production in kind;

(f) A declaration made under the penalty of perjury in the second degree that includes the following:

(I) A statement that the owner or operator has personally examined the statement described in this section and that such statement sets forth, to the best of the owner's or operator's knowledge and belief, the information required by this section; and

(II) A statement by the owner or operator as follows:

No representations are made as to the accuracy of the value of any portion of the production from subject property that is taken in kind by any owner other than the undersigned.

(1.5) Any nonoperating interest owner in an oil or gas well may, on or before the fifteenth day of March each year, submit to the operator by certified mail a report of the actual net taxable revenues received at the wellhead and the actual exempt revenues received at the wellhead by such owner for production taken in kind from the property during the calendar year immediately preceding. Operators shall use the information reported pursuant to this subsection (1.5) to determine the selling price at the wellhead. If any nonoperating interest owner fails to provide to the unit operator the information required under this subsection (1.5) by March 15 of each year, such operator shall use the selling price at the wellhead received by such operator for such operator's share of production from such unit in place of such nonreported information, and the amount of tax for which such nonreporting, nonoperating interest owner is liable shall be calculated based on the selling price at the wellhead reported by the operator.

(2) (a) If a statement of an owner or operator is not received or postmarked on or before the fifteenth day of April of each year, the assessor may impose on such owner or operator a late filing penalty in the amount of one hundred dollars for each calendar day the statement is delinquent; except that such late filing penalty shall not exceed three thousand dollars in any calendar year. The assessor may grant an extension of time for filing a statement to any operator or owner. Any extension, and its length, shall be granted solely at the discretion of the assessor.

(b) This subsection (2) is effective January 1, 1997.

(3) (a) The assessor may require the owner or operator to submit written documentation supporting the information provided in the statement. Such documentation shall be supplied within thirty days after either the date of the postmark on the assessor's written request for such documentation or the date that an owner or operator is required to file a statement pursuant to subsection (1) of this section, whichever is later. Any owner or operator who willfully fails or refuses to comply with the assessor's request for written documentation may be assessed a fine of one hundred dollars for each day of such willful failure or refusal. The total amount of all fines that may be assessed by an assessor against an owner or operator in any calendar year shall not exceed three thousand dollars, regardless of the number of leases or units owned or operated by such owner or operator or the number and length of such willful failures or refusals by such owner or operator.

(b) This subsection (3) is effective January 1, 1997.

(4) All statements and documentation filed with the assessor shall be considered private documents and shall be available on a confidential basis only to the assessor, the administrator, the annual study contractor hired pursuant to section 39-1-104, the executive director of the department of revenue, the county treasurer, and their employees. Such statements and documentation shall be available on a confidential basis to the board of assessment appeals and the county board of equalization when information in such statements and documentation is pertinent to an appeal or protest.

(5) (a) Fines imposed pursuant to this section shall be fees of the office of the county assessor. Any unpaid fines imposed pursuant to this section shall be certified to the county treasurer by January 1 of each year and shall be included in the delinquent owner's or operator's property tax statement issued pursuant to section 39-10-103.

(b) This subsection (5) is effective January 1, 1997.

Source: L. 64: R&RE, p. 710, § 1. C.R.S. 1963: § 137-7-1. L. 69: p. 1120, § 1. L. 72: p. 570, § 55. L. 81: (1)(c) and (1)(d) amended, p. 1857, § 1, effective January 1, 1982. L. 93: (1)(d) amended and (1)(e) and (2) added, pp. 241, 242, §§ 1, 2, effective March 31. L. 96: Entire section amended, p. 107, § 1, effective March 25. L. 2007: (4) amended, p. 498, § 1, effective April 16. L. 2009: (3)(a) amended, (HB 09-1161), ch. 44, p. 166, § 1, effective August 5. L. 2014: IP(1), (1)(a), and (1)(c) amended, (HB 14-1371), ch. 400, p. 2012, § 1, effective August 6. L. 2020: (4) amended, (HB 20-1077), ch. 80, p. 325, § 10, effective September 14.

Cross references: For perjury in the second degree and the penalty therefor, see §§ 18-8- 503 and 18-1.3-501.

Notes of Decisions

Cited in 19 cases (4 in the last 5 years), 1984–2024 · leading case: Washington Cnty. Bd. of Equalization v. Petron Dev. Co., 109 P.3d 146 (Colo. 2005).

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Washington Cnty. Bd. of Equalization v. Petron Dev. Co., 109 P.3d 146 (Colo. 2005). · cites it 23× “This case arose after Petron filed tax declaration schedules with Washington County pursuant to section 39-7-101, C.R.S. (2004). Petron used the “netback” method to report the wellhead selling price of its oil production for the year 2000.”

Colorado Prop. Tax Adm'r v. CO 2, 2023 CO 8 (Colo. 2023). · cites it 27× “21 (“Section 39-7-101, C.R.S., requires every operator or owner .”

Shell W. E&P, Inc. v. Dolores Cnty. Bd. of Commissioners, 948 P.2d 1002 (Colo. 1997). · cites it 17× “For tax years 1985 through 1990, SWEPI filed Oil and Gas Real and Personal Property Declaration Schedules (Tax Declaration Schedules) with the Montezuma County Assessor pursuant to section 39-7-101,11 C.R.S. (1997). While a portion of the carbon dioxide (C02) production from the…”

Colorado Prop. Tax Adm'r v. Co2 Comm., Inc., 527 P.3d 371 (Colo. 2023). · cites it 25× “§ 39-7-101 (1) , C.R.S. ( 2022 ) . The Annual Statement must include, among other things, the "selling price [of oil or gas] at the wellhead," also known as the "net taxable revenues.”

Petron Dev. Co. v. Washington Cnty. Bd. of Equalization, 91 P.3d 408 (Colo. Ct. App. 2004). · cites it 12× “As required by § 39-7-101, C.R.S.2002, Petron filed statements with the county assessor for tax year 2001, reporting the value of the oil sold from the leaseholds during the preceding calendar year.”

CO2 Comm. v. Montezuma Cnty., 2021 COA 36 (Colo. Ct. App. 2021). · cites it 13× “§ 39-7-101(1.5). If the nonoperating interest owner timely submits this information, the operator must use it to determine the selling price at the wellhead to be reported in the annual statement.”

Yuma Cnty. Bd. of Equalization v. Cabot Petroleum Corp., 856 P.2d 844 (Colo. 1993). · cites it 9× “4 During the years 1986, 1987, and 1988, Cabot filed annual statements pursuant to section 39-7-101, 16B C.R.S. (1982), which requires all operators of oil or gas leaseholds to file a statement showing “[t]he selling price at the wellhead of all oil or gas sold or transported…”

Corp. v. Lembke, 2020 CO 73 (Colo. 2020). · cites it 2× “And, of course, it is this aspect of the Special District Act to which Lessees most object, but this section of the Act has not been challenged here and we therefore do not opine on it.”

Coquina Oil Corp. v. Larimer Cnty. Bd. of Equalization, 770 P.2d 1196 (Colo. 1989). · cites it 4× “Coquina Oil Corporation (Coquina) reported its 1982 production revenue and not its 1981 from four oil leases to the Larimer County Assessor (assessor) pursuant to section 39-7-101, 16B C.R.S. (1982). Based on the report the assessor placed a value on the leases and sent a notice…”

Shell W. E&P, Inc. v. Bd. of Cnty. Commissioners of Dolores Cnty., 923 P.2d 251 (Colo. Ct. App. 1996). · cites it 6× “For tax years 1985 through 1990, SWEPI filed Oil and Gas Real and Personal Property Declaration Schedules pursuant to § 39-7-101(1), C.R.S. (1994 Repl.Vol. 16B) only with the Montezuma County Assessor.”

Fed. Land Bank v. Bd. of Cnty. Commissioners, 582 F. Supp. 1507 (D. Colo. 1984). · cites it 2× “The bank’s royalty interests in the 21 counties have been subjected to ad valorem taxes under the Colo *1509 rado property tax scheme that is governed primarily by Colo.Rev.Stat. § 39-7-101 et seq. Its royalty interests in the other 29 counties will be similarly affected by the…”

Pub. Serv. Co. of Colorado v. Fed. Energy Regulatory Comm'n, Oxy USA Inc., Intervenors, 91 F.3d 1478 (D.C. Cir. 1996). “Colo.Rev.Stat. §§ 39-7-101 and 39-7-102. As we stated in Colorado Interstate: When computing the value of property, “[i]f a state sought to capitalize the annual production (or revenue) enjoyed by each producer by multiplying it by a single fixed figure, the [property] tax *1488…”

Show all 19 citing cases →

— Colo. Rev. Stat. § 39-7-101(1) — 7 cases

Colorado Prop. Tax Adm'r v. CO 2, 2023 CO 8 (Colo. 2023). “21 (“Section 39-7-101, C.R.S., requires every operator or owner .”

CO2 Comm. v. Montezuma Cnty., 2021 COA 36 (Colo. Ct. App. 2021). “§ 39-7-101(1.5). If the nonoperating interest owner timely submits this information, the operator must use it to determine the selling price at the wellhead to be reported in the annual statement.”

Corp. v. Lembke, 2020 CO 73 (Colo. 2020). “And, of course, it is this aspect of the Special District Act to which Lessees most object, but this section of the Act has not been challenged here and we therefore do not opine on it.”

Shell W. E&P, Inc. v. Dolores Cnty. Bd. of Commissioners, 948 P.2d 1002 (Colo. 1997). “For tax years 1985 through 1990, SWEPI filed Oil and Gas Real and Personal Property Declaration Schedules (Tax Declaration Schedules) with the Montezuma County Assessor pursuant to section 39-7-101,11 C.R.S. (1997). While a portion of the carbon dioxide (C02) production from the…”

Petron Dev. Co. v. Washington Cnty. Bd. of Equalization, 91 P.3d 408 (Colo. Ct. App. 2004). “As required by § 39-7-101, C.R.S.2002, Petron filed statements with the county assessor for tax year 2001, reporting the value of the oil sold from the leaseholds during the preceding calendar year.”

— Colo. Rev. Stat. § 39-7-101(1)(d) — 5 cases

Colorado Prop. Tax Adm'r v. CO 2, 2023 CO 8 (Colo. 2023). “21 (“Section 39-7-101, C.R.S., requires every operator or owner .”

BP Am. v. Colo, 2016 CO 23 (Colo. 2016).

CO2 Comm., Inc. v. Montezuma Cnty. (D. Colo. 2024).

— Colo. Rev. Stat. § 39-7-101(l)(a) — 1 case

Washington Cnty. Bd. of Equalization v. Petron Dev. Co., 109 P.3d 146 (Colo. 2005). “This case arose after Petron filed tax declaration schedules with Washington County pursuant to section 39-7-101, C.R.S. (2004). Petron used the “netback” method to report the wellhead selling price of its oil production for the year 2000.”

— Colo. Rev. Stat. § 39-7-101(l)(c) — 1 case

Cabot Petroleum Corp. v. Yuma Cnty. Bd. of Equalization, 847 P.2d 152 (Colo. Ct. App. 1993).

— Colo. Rev. Stat. § 39-7-101(l)(d) — 2 cases

Yuma Cnty. Bd. of Equalization v. Cabot Petroleum Corp., 856 P.2d 844 (Colo. 1993). “4 During the years 1986, 1987, and 1988, Cabot filed annual statements pursuant to section 39-7-101, 16B C.R.S. (1982), which requires all operators of oil or gas leaseholds to file a statement showing “[t]he selling price at the wellhead of all oil or gas sold or transported…”

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