of ownership interest; amount of lease bonus, delay rental, working interest, overriding royalty interest and royalty income due the owner as of the annual report date. For the legal description include the county, quarter section, township and range. For additional information about the reporting process please go to https:// www.ok.gov/treasurer/Unclaimed_Property Texas: when reporting mineral proceeds derived from a Texas lease or well, holders are required to include the following: the name of the lease, property or well; any identification number used to identify the lease, property or well; the county in which the lease, property or well is located. For additional information about the reporting process please go to https://claimittexas.org With so many nuances in accounting applications and regulations unique to this industry, it is important to stay informed with the latest requirements to help keep your organization ahead. Take action and learn how Sovos Unclaimed Property Consulting and Reporting solutions can help you meet your compliance needs. Talk to an expert .
though the abandonment period may not have run on the entire balance they are owed. • Include the correct information in the reports. The following states require Oil and Gas companies that report mineral proceeds to include specific information for each owner listed in the final report. Arkansas: holders must include the applicable well name county, section, township, and range of the well; or the county, section, township, and range from which the abandoned minerals were severed or produced. For additional information about the reporting process please go to Unclaimed Property | Arkansas.gov North Dakota: holders shall recording information, and any other information to adequately describe the lease. For additional information about the reporting process please go to https://unclaimedproperty.nd.gov/ Oklahoma: the following minimum information shall be included: name and last known address of the owner; legal description of the property interest; decimal percentage EX T EX Division Order Services, LLC 4865 Ward Road, Suite 200 Wheat Ridge, CO 80033 303-463-8799 303-463-8808 extexllc.com Fax Division Orders, Revenue Distribution, 1099’s Dennis Pade Boyd Sanstra Chris Pennels President Vice President Vice President submit the following information in the report, if available: legal land description, well number,
A bout the A uthor :
Paola Narez is Senior Consulting Manager at Sovos.
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N at i onal A ssociation of D i v i s i on O rder A nalys t s
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