What is a Division Order?
A Division Order is an authorization for payment by the owner directing the operator to pay the owner in accordance with the decimal interest set out in the Division Order at the address (or by Direct Deposit) as noted. The owner should always verify the accuracy of the information contained in the Division Order prior to signing and returning the instrument. The owner must provide the correct social security number/tax identification number to the operator to avoid suspension of interest and the deduction of back-up withholding as required by the Internal Revenue Service. The owner should maintain a copy of the Division Order for future reference.
When will I receive my Division Order?
Documents regarding a transfer of interest are analyzed for completeness and accuracy and then the transfer is implemented in our system. Due to the time required for title analysis, it generally takes thirty (30) days before our owners receive the corresponding Division Order.
When will I receive my first check?
Checks are mailed on or about the 10th of each month. Revenue will be paid only after it reaches $100.00 or as required by applicable state statute. You may make a request in writing to receive your revenue when it reaches $25.00. Owners who have less than $100 but more than $1 for the year will receive a check in November.
Why didn't I receive a check?
Executed Division Orders must be received five (5) business days prior to the check run in order for the revenue to be released. If your Division Order is received after this time, your check will not be released until the following month's check run.