I have now received a division order from ABC Major Oil Company.
The effective date on the division order is September 1, 2020. That is twenty-five months past the effective date shown on the division order. I would like to request a statutory interest on my royalty revenue, as this is the practice in Oklahoma. I am a non-participating royalty deed owner. Other parties subject to the same non-participating royalty deed have been receiving oil and gas payments. Am I entitled to interest on my royalty revenue per the state of Texas law?
If your minerals are in OK, then OK law is used. If the minerals are in TX, then TX law is used. If I get late Division orders, I look up the date of first sales for my records and then send a certified letter return receipt requesting royalties and the statutory interest rate from first sales. Interest is due if the first check is not sent by 180 days after first sales (in OK). I also double check the DO decimal to make sure it is correct and if so, I use the NADOA Division Order form (if the one that was sent was not in that format). I also return a W-9.