Royalties are the mineral owner’s proportionate share of production as reserved in an oil and gas lease.
Please contact Blackbeard’s Division Order Department.
A Division Order is a document Blackbeard Operating 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. Blackbeard uses this information to remit proceeds to the owner if Blackbeard has the disbursement responsibility.
Your owner number is specific to you and is tied to every Blackbeard well connected to you. Always use your owner number when corresponding with Blackbeard.
Forward a recorded deed or instrument of conveyance to Blackbeard’s Division Order Department at:
Blackbeard Operating, LLC
Attn: Division Order Department
Two West 2nd Street, Suite 1700
Tulsa, OK 74103
or forward via e-mail to:
Please send changes in address and/or name to Blackbeard’s Division Order Department. For your protection, changes are not accepted by telephone and must be submitted in writing. For an address change, please complete the Address Change Request Form found on the owner relations page. Please note a request for an address change must include your owner number, old address, new address, last four digits of your social security number/tax identification number, and your signature. For a name change, please complete the Name Change Form also found on the owner relations page and send a copy of the document evidencing the change such as a marriage certificate or divorce decree. Additional information can be found on the Ownership Change Guide.
Once notified, the deceased owner’s revenue will be held in suspense until the proper heirs/beneficiaries can be determined. Upon notifying Blackbeard’s Division Order Department, Blackbeard will send you information describing what must be provided to transfer the interest. Additional information can be found on the Ownership Change Guide.
Yes, we have an electronic funds transfer (EFT) option for our revenue interest owners. EFT payments are only available for accounts drawn within the United States. If you elect to receive electronic payments, you will no longer receive your payment detail by mail. To set up direct deposit, return the Direct Deposit Enrollment Form found on the owner relations page along with an original, voided check by mail to Blackbeard’s Division Order Department. Direct Deposit Enrollment Forms submitted through email cannot be accepted.
Blackbeard hosts our Joint Interest Billings (JIBs), Revenue Check Details, and 2019 forward 1099’s via EnergyLink at www.energylink.com. To access the EnergyLink portal, click on the Joint Interest Billings (JIBs), Check Details, or 1099’s link on our main owner relations page.
Once title is cleared, checks are issued monthly or when an account reaches $100. Checks for accounts over $10 but under $100 are issued at the end of each year.
A royalty owner shares in production revenues, while a working interest owner shares in both production revenues and development and operating expenses.
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.
Checks are stale dated and voided after 90 days. Funds from stale dated checks are placed back into your account to be reissued on the next revenue cycle or once your account reaches $100. If your check is lost, please contact our Division Order Department so that it can be voided and reissued on the next revenue cycle or once your account reaches $100. Please note Blackbeard is unable to void a check believed to be lost until 15 business days after the issuance date.
Many factors contribute to your payment, including: market conditions, fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and well downtime.
This occurs because ownership between family members is not equal, because one party has not provided Blackbeard with a Taxpayer Identification Number (TIN), or because some family members may own interest in other properties in addition to those commonly owned.
This occurs due to special marketing arrangements or other contractual agreements. The value is still proportionally correct.
If petroleum can be produced in commercial quantities on your land, it is time to clear the title to mineral rights. First, our Land Department 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.
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. If the appropriate TIN is not received, Blackbeard is required to withhold 28 percent from your payment for federal income taxes. Withholdings are not refundable by Blackbeard.
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 or bad address. Keeping your information current can prevent this inconvenience.