Does White Oak offer direct deposit (Electronic Funds Transfer) for royalty checks?
Not at this time.
When are royalty checks issued?
Checks are issued and mailed on or about the 25th and/or the last day of each month. If either of these days falls on the weekend or holiday, White Oak will strive to issue checks on the preceding business day. Oil revenue is normally paid within 30-60 days following the sales month. Natural gas revenue is normally paid within 60-90 days following the sales month.
What is minimum pay amount?
An owner must accumulate a minimum balance in their account of $100 in order for a check to be issued. The minimum may be changed to $25 when a Minimum Check Request is completed and submitted. This form is also located on our Important Forms page. Note that we have a Minimum Release each year in December to all accounts with a balance of at least $1.
Why does my monthly payment amount vary?
Many factors may cause your payment to vary, including but not limited to, market conditions, suspended payments, adjustments (including any overpayments or underpayments), fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and routine maintenance or operating issues which may affect the volumes produced from a well during a given time period.
Why does my payment differ from others in my family?
This can occur because ownership between family members is not equal, because one party has not provided White Oak with a Tax ID (TIN) or other required information, or because some family members may own interest in other properties in addition to those commonly owned. Other factors possibly causing variances between family member check amounts may be related to stale dated checks, returned checks and/or address changes.
What should I do if I do not receive my revenue check?
Due to potential postal delays, a revenue check may arrive a few days late on occasion. If you have not received a check by the 10th business day following the date of the check, please contact the revenue department at revenue or call (281) 876-2217.
Can a check 180 days or older be cashed?
White Oak does place an expiration date on revenue checks, prior to cashing a stale dated check to verify the check has not been voided please call the revenue department at (281) 876-2217. The check states you have 180 days; however, the stale dated check void process may not have been run yet so the check may still be valid.
Why is the decimal interest on my division order and check detail different?
This occurs due to special marketing arrangements, unit calculations or other contractual agreements. The value is still proportionally correct. For questions about your decimal percentage, contact owner relations or call (281) 876-2217.
When are royalty payments suspended?
Royalty payments may be suspended (or held in suspense) until certain conditions are satisfied. Generally, royalty payments may be suspended for several reasons including, but not limited to, the following: a missing Tax ID, insufficient address, assignment of interest, notice of death, lack of documentation/title confirming ownership, or disputes involving proper apportionment or ownership of interests in the minerals produced. Also, please note that revenue checks are issued only when the revenue amount due exceeds $100.
Amounts due are accumulated and are released when the matter in question has been resolved and all related documents have been received and processed. All payments are retroactive to the date of suspension.