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What are royalties?
Royalties are the mineral owner’s proportionate share of production as reserved in an oil and gas lease.
I have a question about my royalty check. Whom do I contact?
Marathon Oil Company
PO Box 21158
Tulsa, OK 74121-1158
Phone: +1 888-522-8871
(Customer Service Center)
What is a Division Order?
A Division Order is a document Marathon Oil issues that describes the property, the operator, the legal description, the owner's remittance address and tax ID information, if known, as well as the owner's decimal interest in the property. The owner is asked to sign and return the Division Order. Marathon Oil uses this information to remit proceeds to the owner if Marathon Oil has the disbursement responsibility.
Federal law requires that individuals and partnerships provide a certified Taxpayer Identification Number (TIN) for the owner account. For individual owners, your TIN is your Social Security Number. Other entities should provide Employer Identification Numbers. When our records show that an owner has an interest in one or more wells from which we disburse revenue, we will request owners to complete IRS Form W-9 Request for Taxpayer Identification Number and Certification or W-8 Certificate of Foreign Status. Failure to return the completed form and provide the appropriate TIN will result in Marathon Oil withholding at a rate of 28% from your payment for federal income tax.
How do I transfer my interest in a property?
Forward a recorded deed or instrument of conveyance to Marathon Oil's Division Order office in Houston.
What happens if I change my address or marital status?
Address changes must be received in writing. Please send changes to Marathon Oil’s Division Order office in Houston. Include your name, old address, new address and signature. Please include your owner number and social security number for verification. Please send a copy of your marriage certificate to update your name as a result of marriage.
What happens when the interest owner of a property dies?
Once notified, the deceased owner’s revenue will be held in suspense until the proper heirs can be determined. Upon notifying Marathon Oil’s Division Order office in Houston, Marathon Oil will send you a package describing what must be provided to transfer the interest to the proper heirs.
Where can I research unclaimed funds?
Each state makes an effort to locate rightful owners of production revenues through a single organization, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the National Association of Unclaimed Property Administrators’ (NAUPA) website at http://www.unclaimed.org/.
What is a B-notice?
Every year, the Internal Revenues Service (IRS) compares the information you provided them when applying for your social security number with the information we provided them when reporting your income (on IRS Form 1099). If the IRS finds a discrepancy, they will require Marathon Oil to contact you in order to resolve the error. IRS records are confidential; therefore, the IRS cannot legally inform Marathon Oil as to what specific discrepancy they found.
The First B-Notice requires you to return an IRS Form W9 to Marathon Oil. On the Form W9, provide your name and social security number as it appears on your application to the IRS for your social security number. Normally, this resolves the discrepancy. Common mistakes include inverted numbers, name changes that were not reported to the IRS, and the use of a spouse’s social security number. Should the preparation of a Form W9 not resolve the error, the next year the IRS will require Marathon Oil to send a Second B-Notice. This notice will require you to contact the IRS directly to resolve the discrepancy. Please notify Marathon Oil once the discrepancy is resolved with the IRS.
When are royalties paid?
Once title is cleared, most royalty owners receive a check monthly, unless the amount due is less than $50. Smaller amounts are accumulated and paid when $50 has accumulated or at least once every six months. Those owners with interest in Oklahoma oil and gas wells may elect to receive monthly payment for proceeds greater than $25. Those owners who would like to do so should make such request in writing to the address shown below.
Marathon Oil Company
Division Order Department - 2069
5555 San Felipe Street
Houston, TX 77056
Payments for oil and natural gas are handled differently. Oil payments typically relate to the previous month’s sales. Natural gas payments denote sales typically two months earlier, for they require more time to process, both physically and administratively.
|January 25, 2017||February 24, 2017|
|March 24, 2017||April 25, 2017|
|May 25, 2017||June 23, 2017|
|July 25, 2017||August 23, 2017|
|September 25, 2017||October 25, 2017|
|November 22, 2017||December 22, 2017|
What is the difference between a royalty owner and a working interest owner?
A royalty owner shares in production revenues, while a working interest owner shares in both production revenues and development and operating expenses.
What type of annual statements will I receive?
Royalty interest owners receiving more than $10 and working interest owners receiving more than $600 annually receive IRS Form 1099. This summarizes your total payments and tax withholdings for the previous year.
What do I do if my check is lost, stolen or becomes outdated?
Contact the Customer Service Center at 888-522-8871 to stop payment if your check is lost or stolen. Please have the following information ready when you call: your name, business associate (BA) number and check date. We will stop payment on your check and issue a replacement within 10 days. If your check is outdated, void the check, and send it back to Royalty Relations with a written request for a new check.
Why does my monthly payment sometimes vary?
Many factors contribute to your payment, including: market conditions, fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and well downtime.
Why does my payment differ from others in my family?
This occurs because ownership between family members is not equal, because one party has not provided Marathon Oil with a Taxpayer Identification Number (TIN), or because some family members may own interest in other properties in addition to those commonly owned.
Why are the decimals on my Division Order and check detail different?
This occurs due to special marketing arrangements or other contractual agreements. The value is still proportionally correct.
How do I clear the title to my mineral rights? How long does it take?
If petroleum can be produced in commercial quantities on your land, it is time to clear the title to mineral rights. First, our Division Order office must receive official notice of the first well completion. Next, copies of the property’s records must be obtained by the abstractor. Then, an attorney must examine title to all mineral rights in the well and submit a Title Opinion reflecting current ownership. Lastly, any outstanding questions are resolved. This process can take several months to complete.
When are royalty payments suspended?
For your protection, payments are suspended upon a title dispute, the assignment of interest, notice of death, transfer of property, or in the event of no known address. Keeping your information current can prevent this inconvenience.