If You Need A Formal Equipment Appraisal For Any Reason, We Can Help
Equipment Appraisal Services
Formal equipment appraisals conducted by our accredited Canadian Personal Property Appraisers can assist you when you need to:
- Buy or sell Surplus oil and gas equipment, facilities, or surface equipment related to property acquisitions or dispositions
- Be in compliance with International Financial Reporting Standards
- Determine Fair Market Value for property tax purposes
- Determine replacement values for insurance purposes
- Determine Fair Market Value for acquisition price allocation purposes
- Determine Fair Market Value for Joint Venture purposes
We follow a proven, sustainable, repeatable and defendable process for our appraisal projects, and include the following components:
A. Accredited Canadian Personal Property Appraisers
We have accredited Canadian Personal Property Appraisers Group (CPPAG) appraisers on staff who follow CPPAG Principals of Appraisal for all appraisal projects:
- Purpose: Fully understand the reason for the appraisal (Acquisition, Disposition, Finance, etc.) and provide a complete description of the asset(s).
- Method of Valuation: Determine the perspective of value to be used (Fair Market Value, Replacement Cost, Liquidation Value, etc.) and the method of valuation, i.e. comparable sales analysis.
- Factors Affecting Value: Identify the most important factors that affect the value of the equipment, i.e. equipment condition, location, market conditions, economic conditions.
- Analysis/Conclusion: We assign a value to the equipment based on the factual evidence obtained.
B. Petroleum Accountants Society of Canada (PASC) categorization system
We incorporate the Oilfield Equipment Status and Condition categorization system and guidelines developed by PASC and recognized by the finance, insurance and energy industries.