Oil and Gas Owner FAQ: Payments, Division Orders, and 1099s

Valor typically needs your old address, your new address, and the last four digits of your TIN or SSN. Call (817) 370-0612 to make the change, and Valor can update the address for the operators it serves. Please do not include your TIN or SSN in a web form.

Valor can update your checks and statements after it receives a copy of the legal document making the change, such as a divorce decree or marriage license.

Valor typically mails revenue checks monthly on behalf of the operators it serves, but each operator is on its own cycle. Give Valor your owner number and the payor name, and Valor can tell you when to expect your next check.

Valor can tell you why a payment it handles is on hold. Common reasons include a suspended balance while a title or ownership question is resolved, a division order that hasn't been returned, an operator change, or a balance below the payor's minimum payment amount.

Valor can explain a decimal change on a payment it handles. Common reasons include a unit revision, a new well added to the unit, a lease amendment, or the correction of a prior error, and the change should be documented in writing.

Valor can walk through the deductions on a statement it issues. Deductions can change with processing, gathering, marketing, or transportation charges, and what can be deducted depends on your lease language and state law.

Valor typically needs the death certificate and the documents that transfer the interest. Which documents apply varies by state; they can include a will, probate orders, or, in some states, an affidavit of heirship, and an attorney can tell you which your state requires. Once the documentation is complete, updated division orders are typically issued within about 30 days.

Valor can answer questions about the 1099s it issues for the operators it serves, including correcting your address or TIN. For how to report oil and gas income on your taxes, talk to a CPA or tax advisor.

Valor's summary: ad valorem taxes are property taxes based on the assessed value of a property, typically levied by local governments such as counties. For how they apply to your interests, talk to a CPA or tax advisor.

Valor's summary: a Notice of Appraised Value is a document from the taxing authority, such as a county appraisal district, that tells an owner the value assigned to an oil and gas interest for property taxes. It typically includes instructions for appealing the value.

Valor typically needs to know who bought the interest and their mailing address, even if the deed was recorded with the county, because appraisal districts and payors may not pick up mineral ownership changes from deed records.

Valor may be able to set up direct deposit, depending on the operator. Send an owner inquiry or call (817) 370-0612 to ask about your options.

Valor can answer owner inquiries only for the operators and purchasers it serves. If neither the operator nor the payor on your check stub or division order is a Valor client, contact that company directly.