FAQs
General
How do I change my address?
Please notify us promptly of any change in your mailing address. You may complete the form here.
How Do I change my banking information?
Please notify us promptly of any change in your banking information. You may complete the form here.
Division Orders
How do I calculate my interest?
Your net revenue interest (NRI) is equal to the number of net mineral acres (NMA) you own divided by the spacing unit acreage established for the well multiplied by the base royalty provided for in your oil and gas lease.
Formula: (Net Mineral Acres / Spacing Unit Acreage) x Royalty Rate
Example: If you own 10 net acres in a 640-acre spacing unit and your lease provides for a 3/16ths royalty, your interest is calculated as follows:
10 (NMA)/640 (Spacing Unit Acreage) x 3/16 (Royalty Rate) = 0.00292968
If you own an interest in a multi-unit well, your decimal calculated above would then be multiplied by the allocation factor for the section in which you own. The allocation factor for a multiunit well is set forth in the Property Description section in the top left of your division order. The allocation factor is determined by dividing the length of the completion interval located within the affected unit by the entire length of the completion interval in the subject multi-unit horizontal well.
Example: In the same scenario above, if the allocation factor for the section in which you own was 50%, your calculation would be as follows:
10 (NMA)/640 (Spacing Unit Acreage) x 3/16 (Royalty Rate) x 50% (Allocation Factor) = 0.00146484
What is net mineral acreage (NMA)?
Net mineral acreage is your ownership in a tract of land multiplied by the gross acreage in said tract.
Example: If you own a 20% (or 1/5) interest in a 100-acre tract of land, you own 20 NMA out of the 100 gross mineral acre tract.
What is a division order?
A division order is a record of your interest in a specific well. It contains your name, address, decimal interest, the spacing unit acreage, legal description of the well, interest type, allocation factor (if applicable), well number, and well name.
Division orders are issued to all owners in a specific well after that well has had first sales of either oil or gas.
Amended division orders will be issued if a well undergoes a “rework” of ownership due to a spacing unit change, updated title information, or revised allocation factors. Amended division orders will also be issued when a transfer of interest occurs between two or more parties.
You should only receive a division order if your interest has been calculated for a well’s initial disbursement or has been affected by some change that has occurred. Upon examination of your division orders, you should keep one copy for your records and remit an executed copy back to EQV Operating.
What is a legal description?
A legal description is the geographical description of a property utilized for the purpose of identifying the location of real property. Legal descriptions can vary by state.
Example: Section 12, Township 151N, Range 100W
I have interest in a well, but I have not received a revenue check. Why?
Your account may be in suspense for one of the following reasons:
Title requirement
Address unknown
Uncashed revenue check
The revenue accrued is under the minimum release threshold per applicable state statute
Following a well’s first production, a revenue check will be issued within the state’s applicable statutory period regarding initial production revenue disbursement, assuming none of the above apply.
I believe my decimal interest is incorrect. What do I need to do next?
If you determine there are discrepancies with how your interest has been calculated, please provide in writing a full explanation of how you believe your interest should be calculated along with the supporting documentation to:
EQV Operating LLC
PO BOX 721173
Oklahoma City, OK 73172
Or email us at Ownerrelations@eqvoperating.com
How do I change my account or transfer ownership?
A change in a life situation may result in either a change of ownership or a change to an owner’s payment status. Should one of those situations occur, we may require documentation to effectuate the change. Please review the common circumstances and their respective forms here . *Please note that certain jurisdictions may have differing legal requirements and additional documentation may be required. Please consult with a qualified legal representative if you have questions.
Can I add beneficiaries to my account?
Unfortunately, you are unable to add beneficiaries to your account. Please consult with a qualified legal representative to assist in the estate planning process.
How long will it take to transfer my interest after I submit all the required documentation?
Transfers are processed in the order in which they are received. Our goal is to have the transfers processed within 45 days.
Upon completion of a transfer, an amended division order will be issued/mailed reflecting this change. If you have not received a division order after 90 days, please contact our office at (405) 870-3781 or Ownerrelations@eqvoperating.com.
Can you provide a blank deed for me to complete?
We are unable to provide deeds to owners.
In order to make sure any and all legal requirements are met to effectuate a transfer of real property, please consult with a qualified legal representative.
Revenue
Why wasn't I paid this month?
The most common reason is that your account balance hasn’t reached the required minimum amount set up for your account under your lease or applicable law.
You can lower your required minimum amount by submitting a written request that includes your owner number, the amount that you’d like your minimum to be lowered to (as low as $25), and your signature.
All balances over $10, but less than set minimum pay levels, are paid annually in June. Balances under $10 are paid when required by law.
Why does my payment amount change each month?
A number of factors can influence your payments each month, including:
Fluctuations in prices received and volumes sold
Normal production declines as a property ages
Temporary mechanical or operating changes affecting production
If you notice a significant change in the amount of your payment and you have reason to believe an error has occurred, please contact our Owner Relations department at (405) 870-3781.
If I haven't received my payment, what do I do?
If you haven’t received your payment and it’s been at least 20 days since issuance, contact Owner Relations at Ownerrelations@eqvoperating.com. The payment can be voided and reissued on the next qualifying disbursement. We need to be aware that the payment is missing.
If your address has changed since the disbursement took place, contact us at the Owner Relations number listed above. The payment can be voided and reissued on the next qualifying disbursement.
What is a stale-dated check?
Our revenue checks are not negotiable after 90 days. If you did not deposit your check within that time, we must reissue the check. You will not need to return the payment for it to be reissued.
Once a payment is past the 90 days, DO NOT deposit/cash the payment. It will not clear, and EQV Resources will not reimburse the returned check fee charged by your financial institution.
Can I have my payment direct deposited instead of receiving a check?
Yes. To have ACH/Direct Deposit set up for your account, you will need to complete the EFT/Direct Deposit form here.
I noticed state withholding on my payment. Why is this being applied to my payments?
State withholding is applied to all accounts according to the law of the state where the production occurred.
Do I have to cash/deposit my payments, and what happens if I don't?
It’s up to you whether or not you cash/deposit your payments.
If you do not cash more than three monthly or two semiannual/annual disbursements in a row, then your account will be placed in suspense and subject to escheat. You can release your account from suspense by contacting us at (405) 870-3781.
Can I add more than one email to my account?
Unfortunately, there can only be one email setup per revenue disbursement account.
I have direct deposit set up. When should I expect funds to be deposited into my account?
A notification is emailed anytime a disbursement is made on your account. The funds should be present within two business days after the notification.
Tax
When can I expect my 1099 form?
We will mail your 1099 information each year by January 31.
Why didn't I get a 1099?
You need to be sure that we have your current address and Social Security number. 1099s are issued to royalty owners who have received a gross amount of $10 or greater during the tax year and to working interest owners and vendors who have received $600 or greater during the tax year. Entities identified as corporations are generally not issued a 1099.
Why is my 1099 amount higher than what I received this year?
Your 1099 total includes the gross value amounts paid before taxes, pricing adjustments, post-production deductions, and income tax withholding (state/federal). On the second page of your 1099, the net amount should equal the total amount that you received.
What's the depletion rate of my mineral interests?
You will need to contact your tax advisor regarding questions concerning your tax return.
How do I report certain income/expenses on my tax return?
You will need to contact your tax advisor regarding questions concerning your tax return.