White Star Petroleum LLC


#1

Has anyone had accounting issues with White Star Petroleum? Ever since White Star Petroleum acquired property in Payne County, OK from Devon Energy, I have issues that I have been unable to resolve. I am unable to speak with anyone and my only contact has been emails. I received a letter saying I was over paid for two wells and I could send a check for the over payment or net any revenue due to the over payment. I chose to send a check for the over payment. None of the monthly statements show the reimbursement payment and they say that this is an internal accounting issue. Any suggestions to resolve this problem would be appreciated.


#2

Hi Sylvia:

You will have to be patient with them, but they should get you corrected in 30-60 days. I am a working interest owner in 8 wells in Payne County and it takes them awhile to get up to date on accounting issues.

As a word of advice, NEVER send a check to an O&G company for overpayment of royalties. ALWAYS have them net your account back until even.

Todd M. Baker


#3

Hi Todd, Thanks for your response. The repayment was in August of 2018 and my concern now, which they have not addressed, is that I will receive a Form 1099 that does not reflect the repayment.


#4

You can wait until the 1099 is issued. Then discuss with the accountant that you use what you should do. Several options, but I won’t give that advise. Good Luck.

Todd M. Baker