Additional Help with Gathering Information for an Offer Request
In order to proceed with evaluating your property, we need verification of the revenue from the company (companies) paying you for the production. The best way to do this is to review a copy of the statement that came with your most recent check (or better, last two or three) you have received or other verification of interest and income.
We obtain our ownership from the County’s property tax records. In most states, you are only taxed if there is production from your royalty and/or minerals. Thus, you need to recover any unpaid funds prior to selling the property to us. We are unable to purchase your interest if you are not currently receiving checks.
IF YOU RECEIVE CHECKS, BUT HAVE LOST OR THROWN THEM AWAY
1) The statement from your next check, whenever it comes, or
2) you can request a “Revenue History” from the company paying for oil or gas from the lease
IF YOU ARE NOT RECEIVING CHECKS BUT YOU ARE RECEIVING TAX BILLS AND/OR VALUATIONS
Call the last known company from whom you were receiving payments (the Purchaser) and ask them why you are not being paid. You may be in “minimum suspense” meaning the checks must accumulate to a certain total amount before being released, or the Purchaser may have changed. The last Purchaser usually knows who the new purchaser is or at least who the Operator is.
The Operator is the company responsible for the day-to-day production from the lease and is responsible determining who will purchase oil or gas from the lease. The Operator may or may not be the same company as the company that should be paying you. The company paying you is the Purchaser. To get the name of the Purchaser, call the Operator to find out who is purchasing.
To determine who the Operator is, you may also look on your tax bill or valuation for the name of the Operator of the lease(s) under which you own. You can also call the County Tax Appraiser, Assessor-Collector, or Treasurer for the County in which the interest resides and ask them to look up your name in the oil and gas tax roll for your Operator’s name. Frequently, they can give you an address for the Operator which will assist you in finding the number in information. Sometimes the Operator’s name is also on our letter. Also, the Operator’s phone number can be located on the Railroad Commission Website at:
www.rrc.state.tx.us/data/operators/ogdirectory/index.php
Once you identify the Purchaser, you can call them and ask for their Division Order, Royalty Relation, or Revenue Distribution Department and ask for assistance in determining the status of your interest.
IF YOU PREVIOUSLY RECEIVED TAX BILLS AND/OR VALUATIONS BUT NO LONGER DO