State assessment office explains $40M-plus valuation drop at Elk Operating and warns appeals will continue to affect county budgets
State centrally assessed staff told the commission Elk Operating's valuation fell after the company disclosed increased joint ownership with the Navajo Nation and other valuation adjustments; commissioners raised concerns about appeals, refunds and budget stability.
The full story
State centrally assessed analysts told the San Juan County Commission that Elk Operating’s 2025 assessment dropped sharply because of two principal factors: a newly reported joint ownership interest tied to the Navajo Nation Oil and Gas Company and a lower average oil price used in the 2025 valuation.
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