Overview

Drilling Rig Operators must report all rotary-drilling rigs on CAB-D1 Form. Rotary drilling rigs are to be valued using a “schedule value” as defined in Section 7-36-33(B) (4) NMSA 1978 based on depth capacity or rig class to determine similar or like units. The schedule applicable to rotary drilling rigs is:

Depth Capacity

Property Value

2000-4999

55,840

5000-7499

111,607

7500-9999

167,412

10000-12499

223,215

12500-14999

279,019

15000-17999

334,824

18000-19999

379,466

20000-24999

491,071

25000-29999

580,355


  • Note: that "Depth Capacity" as that phrase is used in this schedule means the maximum depth of well that the rig unit is capable of drilling without exceeding its safe operating design limits.

  • NoteA "rotary drilling rig unit" means all of the component parts of a unit that normally are transported to a site and set up to make a complete rig that is to be used for drilling a well for Oil, Gas, Carbon Dioxide, Water, Geothermal or other minerals. A "rig unit" includes, but is not limited to: derrick and substructure, crown block, traveling block, drilling line, sand line, rotary hose and standpipe, hook, tongs and swivel, elevators, kelly, rotary table, draw works, engine, instruments, slush, and mud pumps, generators, electric lines and accessories, fuel tanks, mud tanks, boilers, feed pump, blowout preventer, tools and supplies, water pumps and lines, drill bits, stairs, railings, dog house, tool joints and miscellaneous equipment.

  • Note: "Rig Class" means a manufacturer's designation by letter and number of name and number commonly understood within the drilling industry as indicative of depth capacity.


Form Schedule

The forms listed below must be completed for your rendition:

Required Attachments

The following attachments are required for your rendition:

  • Daily Work Order Log: A copy of the daily work order log for January 1st or the first day a rotary drilling rig is located in New Mexico.

  • Annual Report to Stockholders

  • Detailed, audited income and expense statement