Frequently Asked Questions
- Who is Permian Deep Rock Oil Company, LLC?
- Permian Deep Rock Oil Company, LLC is the operator for Midland-Petro D.C. Partners, LLC and other affiliated entities. Permian Deep Rock has drilled and completed numerous successful horizontal oil and gas wells in the core of the Midland Basin and will continue to utilize the most advanced technology to drill and produce multiple formations for the benefit of royalty owners and investors.
- What is a division order?
- A Division Order is an instrument which sets forth the proportional ownership in a particular well/property/unit. It verifies the interest owner’s decimal interest from which they will be paid on. It does not represent a sale of your property or any change in your lease.
- What are royalties?
- Royalties are the mineral owner’s proportionate share of production as reserved in an oil and gas lease.
- When are royalty checks issued?
- Revenue payments are mailed on a monthly basis on or around the 25th of each month. Minimum payment is set at $100. Any amounts under the minimum pay amount of $100 are paid annually.
- Why do royalties vary from month to month?
- Many factors contribute to your payment. Examples include varying market conditions, fluctuating commodity prices, oil and gas volumes and/or prices, well downtime such as the well being shut-in for repairs or unforeseen weather conditions, and so on.
- Why do I have differing checks than my neighbor?
- This can occur because ownership between neighbors, family members, etc. may not be equal. Some neighbors may actually own multiple properties or have a smaller property than yours.
- Why are royalty payments “suspended?”
- Payments are suspended due to many factors. Some examples include a title dispute, the assignment or transfer of an interest, notice of owner death, no known address or tax identification number. Keeping your information current with Permian Deep Rock Oil Company can prevent this inconvenience.
- What are the options for preferred payment methods?
- Automatic Deposit – Please refer to the Forms page for further details.
- Payment by Check through regular mail.
- No cash payments.
- What do I do if my check is lost/stolen or becomes outdated?
- Please allow a 21 day processing period each month before claiming a lost check. If your check is stolen, please call 432-686-1902 immediately to request a stop payment. If uncashed, your check will then be re-issued with the following month’s payment. Checks must be cashed within 180 days of issue date. If your check is outdated, please write VOID on the check and return to the Permian Deep Rock Oil Company address (Attention: Division Order Department) for reissue.
- What type of annual statements will I receive?
- 1099s will be distributed by the end of January for any royalty payments over $10.
- What is my Owner Number?
- Your owner number is located on your Division Order, Check Detail and on your 1099. Each owner is assigned a unique 7-digit number.
- Address update
- Please fill out and return (electronically or via mail) the Change of Address form located under the Forms tab at the top of the page.
- Ownership update
- If you have an ownership update, please be sure to notify us immediately to ensure payments are made to the proper owner. Please see the Change In Ownership tab at the top to complete this update electronically or via mail. Some examples of ownership updates are:
- Change in marital status
- Sale/Purchase of a property
- Owner of a property dies
- How much is my property worth?
- Permian Deep Rock Oil Company does not provide appraisals for interests. Please contact a certified petroleum engineer, a royalty management company broker, etc. to obtain the valuation.