How do I notify you of a change of address or change of ownership?
Changes of Address and transfers of interest must be submitted by email, or US mail (please see contact information below).
|Name change - Personal|
|Marriage||Copy of marriage certificate|
|Divorce||Copy of divorce decree reinstating maiden name or prior name, copy of final order/decree showing distribution of assets and copies of any court-mandated conveyance documents|
|Legal Name Change||Court order evidencing name change|
|Appointment of Attorney-In-Fact||Copy of power of attorney|
|Appointment of Agent or Agency||Copy of agency agreement|
|Appointment of Legal Guardian||Copy of birth certificate or court order designation guardianship|
|Name change - Company/Corporate, LLC|
|Merger/Name Change||Certificate of merger and tax ID number|
|LLC Name Change||Certificate evidencing name change|
|Purchase/Sale of Interest|
|Purchase of Interest||Recorded copy of conveyance evidencing acquisition of property|
|Sale of Interest||Recorded copy of conveyance evidencing sale of property|
|Trust or Partnership is Created||Copy of recorded conveyance of interest to the Trustee and/or Trust or Partnership and the Trust or Partnership Agreement|
|Change of Trustee - Death||Copy of recorded Instrument evidencing death of Trustee and appointment of Successor Trustee and a copy of the Trust Agreement|
|Change of Trustee - Resignation||Copy of recorded instruments evidencing Trustee resignation, appointment of Successor Trustee and a copy of Trust Agreement|
|Change of Trustee - Appointment (Original or Succession)||Copy of Trust Agreement or recorded Memorandum of Trust|
|Trust or Partnership is Terminated||Copy of Dissolution of Trust or copy of Partnership and Conveyance to beneficiary or partners|
|Death of co-owner|
|Joint Tenant (with Rights of Survivorship)||Certified copy of Death Certificate of deceased joint tenant|
|Tenants by Entirety||Certified copy of Death Certificate of deceased joint tenant|
|Life Tenant||Certified copy of Death Certificate of deceased life tenant, recorded instrument creating the life estate, and names, addresses and tax identification numbers of remaindermen|
|Tenant in Common||Copies of pertinent "Death of Owner" documents described immediately below for deceased tenant in common|
|Death of owner - Owner died with a will (testate)|
|Probate proceedings are filed in the state in which the property is located and are currently pending||Certified copy of Last Will and Testament, certified copy of Order Admitting Will to Probate and certified copy of Letters Testamentary|
|Probate proceedings were filed in the state in which property is located and are complete||Certified copy of Final Decree, Certificate of Transfer or other documentation evidencing final distribution of property by the court|
|Probate proceedings have not been filed||Certified copy of Death Certificate, certified copy of the Last Will and Testament, and a copy of a properly executed and recorded Affidavit of Heirship signed or witnessed by an uninterested third party (not a family member)|
|Death of owner - Owner died without a will (intestate)|
|Probate proceedings are filed in the state in which the property is located and are currently pending||Certified copy of Death Certificate and a certified copy of Administration Proceedings|
|Probate proceedings were filed in the state in which the property is located and are complete||Certified copy of Final Decree, Certificate of Transfer or other documentation evidencing final distribution of property by the court through laws of descent and distribution|
|Probate proceedings have not been filed||Certified copy of Death Certificate and a copy of a property executed and recorded Affidavit of Heirship signed or witnessed by an uninterested third party (not a family member)|
What are royalties?
Royalties are the interests retained by the lessor under an oil, natural gas and/or mineral lease. Royalties are payable based upon the value of percentage of the minerals produced from the lease.
How is my royalty interest calculated?
Royalty is calculated based on the following:
– Take the number of net mineral acres that you own within a well’s drilling or spacing unit
– Divide that number by the total acres in the well’s drilling or spacing unit and
– Multiply this number by the royalty interest negotiated in your Oil, Natural Gas and Mineral Lease
For example, if you own 40 net mineral acres, the spacing unit is 640 and the royalty interest is 1/8th, then your royalty interest in the well is (40/640) x 1/8 = 0.0078125
What is a Division Order?
A division order is a document confirming ownership information in a particular property/unit and authorizing distribution of funds according to that information. The division order does NOT represent a sale of your properly or change the lease in any way.
When you sign and return a Division Order, you confirm that you agree with the information disclosed in the document. Companies want owners to confirm name and address along with other contact information to ensure royalties are paid correctly.
When are royalty checks issued?
Checks are generally issued and mailed at the end of each month. Oil revenue is generally paid within 30-60 days following the sales month. Natural gas revenue is normally paid within 60-90 days following the sales month.
What is minimum pay?
Different companies set minimum limits for when checks are physically cut and royalty is distributed. Some companies require that an owner must accumulate a minimum balance of $100 dollars in their account in order for a check to be issued. Minimums sometimes can be lowered depending on the company and usually require a Change Release form to be completed and submitted.
Why does my monthly payment amount vary?
Many factors may cause your payment to vary, including but not limited to, market conditions, suspended payments, adjustments (including any overpayments or underpayments by the company), fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and routine maintenance or operating issues which may affect the volumes produced from a well during a given period.
Why does my payment differ from others in my family?
This can occur because ownership between family members might not be equal or because one party has not provided the company with a Tax ID (TIN) or other information required. Other possibilities could be because some family members may own interest in other properties in addition to those commonly owned or the contribution of stale dated checks, returned checks and/or address changes.
Where can I research unclaimed property?
Each state makes an effort to locate rightful owners of production revenues, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the National Association of Unclaimed Property Administrator’s (NAUPA) website.