ExxonMobil drops appeal

by Cat Urbigkit

ExxonMobil Corporation dropped its appeal of a production tax audit assessment for sweet gas from the Tip Top Field for production years 1997-1999. According to the company’s notice of withdrawal of appeal, ExxonMobil “has determined that the amount in controversy and the costs of litigation do not justify the continued prosecution of this appeal.” The company noted its preference to pay the assessment “to avoid the costs of litigation.”

The State Board of Equalization dropped the appeal from its docket. Attorney John McKinley of the law firm Davis and Cannon (which is handling the matter for the Sublette County Commission) told the commission via telephone conference call Tuesday, “There is approximately $150,000 of tax and interest held in escrow pending resolution of that appeal.” With the dismissal of the appeal, the funds can be released, McKinley said.