Opinion No.

The Honorable John Paul Verkamp State Representative 1405 W. Center Street Greenwood, AR 72936-3405

Dear Representative Verkamp:

You have presented the following questions for my opinion:(1) Is it proper for the Arkansas Assessment Coordination Department to set the estimated value of natural gas produced at the well head?(2) In light of the volatility of gas prices, is it proper for the Arkansas Assessment Coordination Department to establish the value of natural gas produced at the well head by using a one-year average price of natural gas produced and sold at the well head to determine the…