Our Blog
How long will it take you to get me an offer?
If you have an interest in only a few properties and you can provide sufficient supporting documentation such as check stubs, Division Orders and/or Pay Statements from the oil/gas Paying Company, we can generally have an offer to you within three (3) days. This is certainly true when you are additionally able to supply a… Read More
What will I be required to do in order to get an offer from you?
Once you provide us with the necessary documentation discussed above, we will be able to prepare the conveyance instruments and transfer documents. After you execute (sign) the conveyance instruments in front of a witness and have your signature(s) notarized, we will ask you to execute a transfer letter which will only need to be witnessed.… Read More
How soon will I receive payment from you?
Once we receive the conveyance instrument(s) and transfer document(s) – and each is properly signed, witnessed and notarized – we will forward payment either by mail, overnight delivery or wire transfer the next business day.
How do I know when our transaction is complete?
After you receive payment for our acquisition of your oil and gas interest, we will record the conveyance instruments in the appropriate County Records – upon our receipt of the recorded documents from the County Clerk(s), we will provide a copy to you – this will be your record of our transaction and that your… Read More
Will I receive a 1099 for the sale of my oil and gas interest to you?
Yes, we are required to report the sale amount of our transaction to the Internal Revenue Service and submit a 1099 to you. We are also required to withhold thirty (30%) percent of the sale amount if you do not provide us with your Social Security Number/Taxpayer Identification Number.
