Question about checks with NO production or tax info


#1

My siblings and I are currently receiving checks from Gulfport Midcon. In the past they have included production numbers and tax withholding amounts. Now we are just getting totals; is this normal? The money is nice but it is nice to track details also.

Mike Powers


#2

I hear about it happening from time to time with some operators.

However, Oklahoma Statute requires that they provide the information to you. Some are trying to make it available only electronically. This is acceptable IF you agree to it in advance.

We have a couple that send the information in a separate mailing

See below.
§52-570.12. Information to be included with payments to interest owner - Calculation of revenue decimals - Measurement of gas volume reported – Electronic dissemination.
A. The following information for each property and month of sale shall be included with each payment made to an interest owner from the sale of oil or gas:

  1. Lease or well identification;
  2. Month and year of sales included in the payment;
  3. Total barrels or MCF attributed to such payment;
  4. Price per barrel or MCF, including British Thermal Unit adjustment of gas sold;
  5. Total amount attributed to such payment of severance and other production taxes, with the exception of windfall profit tax;
  6. Net value of total sales attributed to such payment after taxes are deducted;
  7. Owner’s interest, expressed as a decimal, in production from the property;
  8. Owner’s share of the total value of sales attributed to such payment prior to any deductions;
  9. Owner’s share of the sales value attributed to such payment less owner’s share of the production and severance taxes; and
  10. A specific listing of the amount and purpose of any other deductions from the proceeds attributed to such payment due to the owner upon request by the owner.
    B. For purposes of the Production Revenue Standards Act:
  11. All revenue decimals shall be calculated to not less than the nearest sixth decimal place, which is the nearest part in one million; and
  12. Gas volumes reported to any owner shall be measured as required by Section 474 of this title.
    C. All information required to be included under subsection A of this section may be provided or made available to an owner by electronic means including but not limited to electronic mail or a website or database accessible to the owner, upon the mutual written consent of the information provider and the owner.

#3

Gulfport mails their run statement separately from the checks. You can also download it from their site. You should have gotten a letter from them with your login. Call and request it. All is not lost, just temporarily hiding.