Owner Relations Dept

Phone: (432) 279-0061
Email: owners@crownquest.com

Working Interest Owners

CrownQuest provides electronic images of our joint interest billing invoices and statements to our joint interest owners by utilizing advanced Electronic Data Interchange (“EDI”).  CrownQuest utilizes EnergyLink, by Red Dog Systems, as our vehicle to provide this information.  Our use of EDI leverages technology to assist in our delivery of accurate and consistent information on a timely basis to provide our owners with the tools to more efficiently receive and process their non-operated JIB data.

logo-energylink-tmTo obtain more information on how to enroll in this service, which allows our joint interest owners to view and/or print their JIB’s at no cost, please visit EnergyLink’s website at www.energylink.com or call them at 1-888-573-3364.

 


FAQs

All address changes must be submitted in writing with a signature. No changes will be accepted over the telephone. You may download the attached form and send it to the mailing address or scan it and send via e-mail to owners@crownquest.com.
A name cannot be added to an account without providing a recorded copy of a deed conveying the interest into yourself and the other party as joint tenants.
Provide a copy of the Trust Agreement, along with a Deed from the individual(s) into the Trust, recorded in the counties where the properties are located. The deed also needs to name a Trustee of the Trust.
Provide a document naming the Successor Trustee, recorded in the counties where the properties are located.
CrownQuest cannot provide a valuation for interests. We can provide a payment history to assist you.
CrownQuest cannot provide any letter of this type because there are too many variables involved with oil and gas production i.e. pricing, mechanical, force majeure factors etc.
1099’s are mailed out by January 31 of each year. If you need a copy of your 1099, please contact the Owner Relations department.
Revenue checks are issued at the end of each month if your revenue reaches our $100.00 minimum.
Please contact the Owner Relations department.
Typically, this is because your account is in a minimum pay status. CrownQuest remits revenue checks to you once your balance exceeds $100. All revenue, regardless of the amount is disbursed once a year, in December of that year. If your amount is above the minimum payment then please allow two weeks before contacting us if you receive your revenue by check and not direct deposit.
CrownQuest will reissue a lost, stolen or stale dated check after six weeks from date of check issue. Please download the Request for Check Replacement form and return the completed form, along with the stale dated check to the address noted on the form to request a replacement check.
At this time, CrownQuest does not offer voluntary tax withholding.
CrownQuest has a $100 minimum payment amount. You will receive a check once your revenue amount reaches $100 or once a year in December each year when all minimum suspense amounts are released. If your revenue check generally exceeds the minimum check amount please contact owner relations.
A Division Order is a document CrownQuest issues that describes the property, the operator, the legal description, the owner’s remittance address, as well as the owner’s decimal interest and interest type in the property. The owner is asked to sign and return the Division Order. CrownQuest uses this information to remit proceeds to the owner if CrownQuest has the disbursement responsibility.
Many factors contribute to your payment, including: market conditions, fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and well downtime.
Please provide us with a recorded copy of the probated will and letters of testamentary along with a copy of the death certificate. If the decedent did not leave a will, please contact owner relations.
Yes. Royalty interest owners receiving more than $10.00, and working interest owners receiving $600.00 or more annually will receive an IRS Form 1099-Misc by January 31st of the following year. The income reported to the IRS is your gross income prior to any other deductions or taxes. The 1099 will also list any state or U.S. withholding amounts deducted from your revenue checks.

You may also receive an annual property tax bill (Ad Valorem Tax) from the county (or parish) in which your well(s) are located.

Ad Valorem taxes on minerals are levied at the county level. Ad Valorem is Latin for “according to value.” In Texas (and in some other states), this tax becomes payable only when minerals are producing (as opposed to non-producing), and are billed and collected once per year. Mineral interests are classified as real property, and are taxed based on the appraised Fair Market Value. In its simplest form, fair market value is the price a willing buyer from the open market will pay for a mineral interest within the currently prevailing market conditions.
A severance/production tax is a state tax levied against both royalty and working interest owners upon their pro rata share of oil and gas production. State governments set owner severance tax rates and levy the tax when natural resources such as oil and gas are “severed” from the earth. In addition, county governments render and collect a yearly “Ad Valorem Tax” on producing minerals in many states. Owners are usually assessed and billed annually directly from the county where the well(s) are located.
Yes. Royalty accounts are subject to adjustment, either upward or downward, whenever computational errors are discovered. Adjustments on your check detail can be identified by a positive and negative entry listed under the “Your Net” column on your revenue check. The negative entry will indicate what was previously paid to you on a prior royalty check. The positive entry right above it will indicate the amount that should have been paid to you. The difference is the adjustment to you for that specific production month. There are many factors that may result in a prior period adjustment, such as:

  • Revised production statements from the property operator
  • Revised plant statements from a plant operator
  • Corrected data received after an unexpected operational change (often due to a mechanical failure that interrupts normal operations or a major weather event)
  • Revised pricing information from third parties
  • Revised allocation statements or pricing information due to audit findings
  • Accounting errors
  • Retroactive tax incentives provided by government authorities