Oil and Gas Owner Frequently Asked Questions:

All we need you to do is confirm the old address, and provide us with the new address and the last four digits of your TIN or SSN.

If you send us a copy of the legal document making the change (ie divorce decree or marriage license) we can update your checks and statements.

We mail these out monthly, but each operator is on their own cycle. Contact our team and tell us your Owner Number and the Payor name and we can tell you when to expect it.

Yes. If you are a royalty interest owner who receives over $10, or a working interest owner who receives $600 or more per year, you can expect to receive an 1099 form. The amount reported to the IRS represents your total income before any deductions or taxes are applied. Our team can help review your 1099s for accuracy. We are here to help ensure all your information is accurate and that you are not being over or under-taxed.

Ad valorem taxes are property taxes that are levied based on the assessed value of a property. The term "ad valorem" is Latin for "according to value." These taxes are typically imposed by local governments, such as counties or municipalities, and are used to generate revenue for funding public services and infrastructure. Check out our blog post here to learn more about how they impact oil and gas asset owners.

Notice of Appraised Value is a document that informs owners of oil and gas interests about the assessed value of their properties for tax purposes. The notice is typically sent by the relevant taxing authority, such as the county or parish, and serves to inform owners of the appraised value assigned to their oil and gas assets.

The Notice of Appraised Value typically includes information about the assessed value, any applicable tax rates, and instructions on how to appeal the valuation if the owner disagrees with it. It serves as an official notification to the owner regarding the taxable value of their oil and gas interests for the purpose of property taxation.

Yes. Please inform us about the buyer of the property and provide their current mailing address, even if you have already submitted this information to the County during the deed transfer process. It's important to note that appraisal districts are not legally obligated to regularly review deed records for mineral interest ownership changes. More importantly, the parties involved in the transaction should also notify our team of the change. In some cases, the appraisal district may require a change of ownership to be reflected in the official payment records of the pipeline or operator before updating their own records. This process helps minimize potential disputes regarding ownership for taxpayers.

Yes. However, this depends on the operators preferences. Please reach out to us here to explore your options.