A: Checks are issued on the 20th of each month. Depending on weekends and holidays, ACH/direct deposits should be reflected in your account by the 23rd day of the month provided there were production sales and the amount is $100.00 or more. Minimum checks are issued in August.
A: Payments are issued if the subject property has had production sales to Enterprise in the previous month and the owner's account balance is $100.00 or more. Amounts under $100.00 will remain unpaid until the minimum of $100.00 has been reached. Minimum checks are issued in August.
A: Receiving a non-negotiable check indicates that you have signed up for direct deposit with Enterprise. Your funds will be deposited into your account and the non-negotiable check is being sent as your check detail.
A: Yes, please complete the Direct Deposit ACH form and mail it to Enterprise.
A: Depending on weekends and holidays, ACH/direct deposits should be reflected in your account by the 23rd day of the month.
A: Payments are issued if the subject property has had production sales to Enterprise in the previous month and the owner's account balance is $100.00 or more. Amounts under $100.00 will remain unpaid until the minimum of $100.00 has been reached. Upon written request, Enterprise will change the minimum payment amount on an individual account from $100.00 to $25.00.
A: Return the check to Enterprise and it will be re-issued. Please review your records to make sure the check has not already been re-issued.
A: A replacement check can be requested 10 banking days after the original check was issued. Notify us at (888)547-0877 or by email at RoyaltyRelationsOKC@Eprod.com if this occurs. A representative will confirm that the check is outstanding and if so, issue a stop-payment on the funds. The replacement check will be issued on the next available check run date.
A: You can find your decimal interest on your Division/Transfer Order and on your check detail.
A: Your share from a well is calculated based on the mineral acres you own in the spacing unit divided by the acres in the spacing unit multiplied by the base royalty you are subject to. For example, if you own 10 acres in a 640 acre spacing unit and your lease provides for a 3/16 base royalty, your interest is a .00292968 decimal interest. (10/640 x 3/16)
A: Many factors contribute to your payment, including: market conditions, fluctuating commodity prices, production volumes, seasonal conditions, and well downtime.
A: Enterprise cannot provide you with a value for your interest. Enterprise is not able to accurately predict how many barrels of oil will be produced over a period of time. Please contact a certified petroleum engineer, a royalty management company, or broker to obtain the valuation.
A: Yes, unless your ownership is subject to restrictions. After you have found a buyer they should provide this office with a recorded copy of the conveyance.
A: We will mail your 1099 information each year by January 31st. If you do not receive your 1099 by February 16th or if the information on the 1099 is incorrect, call the 1099 hotline at (405)606-5426.
A: Yes, please contact us at RoyaltyRelationsOKC@Eprod.com. For faster service, please provide your owner number when contacting us.
A: The name of the operator is listed on your check detail.
A: Enterprise does not own or operate wells and is merely the oil purchaser, who is making direct payment to the owners for the operator. Occasionally, Enterprise will handle the gas redistribution to the owners for the operator.
A: A change of address must be in writing (use our Change of Address form); you may fax it to 405-606-4534 or email it to OwnerAddress.BankChanges@eprod.com. It may be mailed to:
Enterprise Crude Oil LLC
Attn: Royalty Relations
210 Park Avenue, Suite 1500
Oklahoma City, OK 73102
A: Provide Enterprise with a copy of Marriage Certificate, Divorce Decree, Court Order or other document effecting the name change.
A: Please complete a new Direct Deposit ACH form and mail it to Enterprise Crude Oil LLC.
A: Your owner number is listed on your Division/Transfer Order and on the upper left corner of your check detail.
A: You can find the property description on your Division/Transfer Order or on a letter of notification from Enterprise stating that you will begin receiving payment from us in lieu of the former payor.
A: Please see the Death of an Interest Owner section under the Changes to Your Account tab on this website.
A: Provide Enterprise with a recorded copy of the conveyance document covering the wells, properties and/or county in which the interest is located.
A: Provide Enterprise with recorded copies of the conveyances of interest into the trust which have been recorded in the county in which the property is located.
A: You must file a deed, assignment, or other instrument conveying title in the interest to you and the other party in the real property records of the county or parish in which the interest is located. You must then provide us with a copy of the instrument to add the other party to your account. In the event this transaction is not completed and the instrument has not been signed and recorded, you must advise us in writing if you want your payments suspended until the transaction is completed and you have provided us with a copy of the instrument.
A: If we have your social security number/taxpayer identification number and everything else we need to place you in a pay status, your funds (assuming you have $100 in your account) will go out on our next regularly scheduled check run on the 20th.
A: This can occur because ownership between family members is not always equal, or because one party has not provided us with a social security number/taxpayer identification number and was paid at different times for the same production where the check detail should be compared by sale dates and not just by the check amount, or because some family members may own interest in other properties in addition to those commonly owned.
A: While that is acceptable, witnesses by two parties is requested.
Q: Do I need to send my Transfer Order to the other owners listed on the Transfer Order to sign? Are we all supposed to sign the same copy?
A: Each party was sent the Transfer Order for signature in counterpart; you do not have to sign on the same copy.
A: Each state has unclaimed property laws that require the reporting of funds held for its residents. Once abandoned property has reached the state's required dormancy period, it is paid to the state of the owner's last known address. If the address is unknown, the funds are turned over to the state of incorporation or charter of the reporting company. Enterprise Crude Oil LLC is chartered in the state of Texas.
A: Each state makes an effort to locate rightful owners of production revenues through a single organization, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the unclaimed property website for any known address state or the National Association of Unclaimed Property Administrators. (NAUPA) Web site at www.unclaimed.org.
Q: If I filed a claim with the Texas Comptroller of Public Accounts (or any state) do I need to send you the same documents I sent them?
A: Yes, the state will not send it to us.