- When are the Form 1099 Miscellaneous Income statements mailed? These are mailed by January 31st of each year.
- What is an “owner number” and its purpose?
C.W. Resources, Inc. assigns each of its interest owners a unique owner number for internal identification purposes. Please include your owner number when communicating or corresponding with C.W. Resources, Inc.
- What should I do if I do not receive my royalty check?
Due to potential postal delays, a check may arrive a few days late. If your check is more than two weeks late, please contact Owner Relations.
A frequent reason for not receiving a royalty check is that your account has not reached its “minimum pay” or “minimum suspense” status. C. W. Resources, Inc. mails royalty revenue on the last business day of every month, and releases royalty checks when your accrued royalties are greater than $100.00 or pays annually, if amounts are greater than $10, whichever occurs first, or as required by applicable state statute.
Occasionally, payments are held due to title matters that create uncertainty as to ownership, such as notice of death, change of address, transfer of property, assignment of interest, or legal dispute. Payments due are accumulated and released when the matter affecting ownership has been resolved. Inquiries regarding suspense balances should be made in writing to C.W. Resources, Inc. Owner Relations Department.
- When are royalty payments suspended?
For your protection, payments may be suspended in the event of a title dispute, assignment of interest, notice of death, transfer or sale of property, or unknown address. You can prevent such an inconvenience by promptly notifying us of any change regarding your interest.
- Why is backup withholding deducted from my revenue check?
You must provide us with a valid tax identification number or social security number for reporting and identification purposes. Otherwise, the Internal Revenue Service requires that we withhold 28% of all revenues until this information is provided. A W-9 form must be filled out and returned to our office.
- Why does the amount of my royalty payment sometimes vary from month to month?
Many factors contribute to your payment. Changing market conditions may cause price fluctuations, while mechanical or operational problems or routine maintenance may temporarily affect production and cause downtime. Also, regulatory or contractual changes or seasonal conditions can affect the amount of your payment. If you have reason to believe an error in payment has occurred, please contact us at the email address or phone number provided on the contacts page.
- How do I add my spouse to my account?
You must file a deed, assignment, or other instrument conveying title in the interest to you and your spouse in the real property records of the county or parish in which the interest is located. You must then provide us with a certified copy of the instrument to add your spouse to your account. In the event this transaction is not yet completed and the instrument has not been signed and recorded, you must advise us in writing if you want your payments suspended until the transaction is completed and you have provided us with a certified copy of the instrument.
- What documents are required if I buy or sell an interest in a property?
You should provide C.W. Resources, Inc. Owner Relations Department with a certified copy of the deed, assignment, or other instrument of conveyance properly recorded in the county or parish in which the property is located. See contacts.
- If I am interested in selling my minerals to C.W. Resources, Inc., whom should I contact? Contact C.W. Resources, Inc. Owner Relations Department at (903) 759-8822 ext. 44.
- What do I do to transfer my ownership to someone else?
The purchaser must file a deed, assignment, or other instrument conveying your title in the interest in the real property records of the county or parish in which the interest is located. The purchaser must then provide us with a certified copy of the instrument, along with a social security number or tax identification number, address, and daytime phone number. In the event this transaction is not yet completed and the instrument has not been signed and recorded, you must advise us in writing if you want payments suspended until the transaction is completed and we have been provided with a certified copy of the instrument.
- What is a division order?
Once title has been “cleared” (i.e., verified by a title opinion) and a producing well has been drilled, a division order authorizing the sale of production from the well is sent to all royalty and working interest owners for their signatures. The division order sets forth the decimal interest of production owned by each party, their addresses and tax identification numbers or social security numbers, and a legal description of the property on which the well is located. Once the royalty owners have signed the division order, they may be put into a “pay status” to begin receiving royalty payments.