on the division orders to be signed there is a line that states: suspense code: My newest division orders have giving Pxfer as reason for suspense of payments. this is with Oasis. what does Pxfer mean?
Glo, I have been a division order analyst for 40 years, so I work with suspense codes every day. Every company creates their own codes, but I will bet money that Pxfer means “pending transfer”.
This means that there is some kind of documentation still needed by the payer (company issuing the D/O) before your account can be released for payment. There was some form of transfer involved with your interest, such as you inherited it and the estate document(s) are incomplete. Or, if you acquired only part of the Seller’s interest by deed, or deeded only part of your interest to someone else, and there is something wrong with the copy of the deed the company received. OR, it could simply be that they don’t have your SSN or EIN yet, which you will provide on the division order when you sign and return it.
If your land is in Texas, and the D/O you received is on the NADOA 1995 Division Order form (http://nadoa.org/forms/NADOA_Model_Form_DO_Booklet.pdf), your account might not be released until you sign and return the D/O, even if they get the documentation they’re waiting on.
If this payer has a Royalty Owner Relations hotline, be sure to call the hotline asking for someone in the Division Order Department to call you as soon as possible to tell you for certain what Pxfer means, and what documents (if any) they still need, so the Pxfer code can be removed.
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that makes complete sense. thanks…I sold off part of my mineral rights last fall…they may need more documentation. I willl make that phone call this morning. thanks SO MUCH
made the call to learn that the pending transfer is transferring my payments to my trust rather than me as an individual. that trust was formed in 2013 and all payments have been made to my trust…yet…I was told it would take some time to complete the transfer of payments for these new wells.
Glo, thanks for the update. So you received a Transfer Order, and you were listed in it as the “Transferor.” You said you sold part of your mineral rights last fall, so I assume the part you kept is what you put into the trust. Post another question if you continue to have problems with this, but hopefully everything will get smoothed out soon.
Thanks for the vote of confidence, Kenny. Appreciate it.