FAQ's

Please select accounting or land FAQs below

How do I view the detail on my Check?

Gulf Pine utilizes EnergyLink for online access for all check details and every working interest and royalty owner will receive login information. Access to EnergyLink can be found at www.energylink.com or from this website. Instructions of how to read the JIB statement can be found here. If you have not received your login information or have any questions on how to read your statements please contact the Gulf Pine Accounting group at 1-877-559-3654 or by email at accounting@gulfpine.com.

Who should I contact if I have questions regarding my Check Detail?

Contact the Gulf Pine Accounting group at 1-877-559-3654 or by email at accounting@gulfpine.com.

What is an owner number and what is its purpose?

Gulf Pine assigns each of its interest owners a unique owner number for internal identification purposes. Please include your owner number when communicating or corresponding with Gulf Pine. The owner number can be located on the top left side of the check by your name.

Royalty Payment Schedule?

Royalty Checks are mailed by the 26th of the month.  If the 26th of the month falls on a weekend or a holiday, payment will be mailed the following business day.

*PLEASE ALLOW 15 BUSINESS DAYS FOR DELIVERY OF YOUR CHECK*

Why does my monthly payment vary?

Check amounts may vary from month to month depending on production volumes, price of product, marketing arrangements, changes in tax laws, or any adjustments that may occur.

Minimum Payment Policy?

Payments will be made monthly to all owners with a cumulative balance of $100 or more. Balances less than $100 will be released once a year (typically in May), unless the state statutes require a semi-annual distribution.

Why does my payment differ from others in my family?

Many factors can impact your payment:  non-resident tax laws or rounding of decimal.   For more information, please contact the Gulf Pine Land team at 1-877-559-3655 or by email at land@gulfpine.com.

Does Gulf Pine offer Direct Deposit?

Gulf Pine currently does not offer a direct deposit payment option.

Lost or Stolen Check?

If your check is not received within 15 business days of the normal payment date, please contact the Gulf Pine Accounting group at 1-877-559-3654 or by email at accounting@gulfpine.com. Funds are normally reissued with your next check. Please understand that if you ask for a replacement check the original check will be immediately voided. This means that if the original check arrives on the next day you should NOT CASH it as this check will not be honored by Gulf Pine.

When will I receive my 1099?

1099 forms are required by law to be mailed out by January 31st. if you have not received your form 1099 within two weeks after that date you may contact owner relations to receive a duplicate.

Why doesn’t my 1099 tie to the check I received?

The amount required by the IRS to be reported on the 1099 misc. form is the gross amount of your checks (before taxes or other deductions).

Why did I received multiple 1099s?

If you have more than one owner number, you will receive a form 1099 for each owner number.

How do I report certain income/expenses on my tax returns?

Gulf Pine cannot provide tax advice. Please contact your tax advisor regarding questions concerning your tax return.

Why didn’t I receive a 1099?

Please ensure we have your current address and social security number. Forms to correct either of these are available on this website. 1099s are issued to royalty owners who have received a gross amount of $10.00 or greater during the tax year, and to working interest owners who received $600.00 or greater during the tax year. Entities identified as corporations are generally not issued a 1099.

How can I have discrepancies on my 1099 corrected?

Changes will be made upon our receipt of the required documentation in owner relations. The deadline for submitting changes is March 15th of the current year. Please notify us as soon as possible after receiving your 1099 to ensure your information is corrected prior to submitting the information to the IRS.

How do I obtain a copy of my 1099?

A duplicate can be provided should you misplace your form. Please contact the Gulf Pine Land team at 1-877-559-3655 or land@gulfpine.com to verify the address. Please be prepared to provide your owner number(s).

What is a Division Order?

A Division Order is the document that lets you know production has started and Gulf Pine is preparing to make distribution of revenue derived from the sale of oil, gas and other hydrocarbons.  Gulf Pine uses a Division Order to verify that your name and address is correct as shown for mailing payments.  We also use this document to verify your decimal interest is accurate to ensure revenue distribution is correct.

What is a Net Revenue Interest?

A Net Revenue Interest (NRI) is the share of revenue, expressed in decimals.

How is my interest in a well calculated?

A Royalty interest in a well is calculated as follows:

Step 1: Take the number of net mineral acres that you own within a well’s drilling or spacing unit (example:  if you own an undivided ½ mineral interest in 80 acres, you own 40 net mineral acres)

Step 2: Divide that number by the total acres in the well’s drilling or spacing unit; and

Step 3: Multiply this number by the royalty interest stated in your Oil, Natural Gas and Mineral Lease

Example:  if you own 40 net mineral acres, spacing unit is 640 acres and royalty interest is 1/8, then your royalty interest in the well is (40/640) x 1/8 = 0.0078125

I think the interest on the Division Order is wrong. Whom do I contact and what do I do?

All inquiries should be made in writing to our mailing address or emailed to land@gulfpine.com.

What does Royalty Interest mean?

Royalty Interest (RI) owners own the minerals and have signed an oil and gas lease which entitles the owner to a percentage of revenue from the sale of oil and gas produced from the acreage described in the oil and gas lease.  This percentage of revenue is referred to as the “royalty interest”.  This interest is not subject to any of the costs related to the development, drilling, operations or maintenance of the well.

What does “Working Interest” mean?

A Working Interest (WI) is a percentage of ownership in an oil and gas lease and grants its owner the right to explore drill and produce oil and gas from a tract of property. Working Interest owners are obligated to pay their proportionate percentage of the cost of leasing, drilling, producing and operating a well or unit.

What does “Mineral Interest” Mean?

A Mineral Interest (MI) is also known as an unleased mineral interest and is a cost-bearing interest because the unleased mineral interest owners are not sharing a portion of their production in exchange for the Operators covering all of the production costs associated with extracting the resources from the ground.  The unleased mineral interest owners are entitled to 100% of their production minus their proportionate share of the cost of drilling, completing and equipping the well in addition to operating costs after the well is completed.

What is an Overriding Royalty Interest?

An Overriding Royalty Interest (OR) is an interest which is not connected to an ownership of minerals under the ground.  It is the right to receive revenue from the production of oil and gas from a well. The overriding royalty is carved out of the Lessee’s (operator’s) working interest and entitles its owner to a fraction of production.  It is limited in duration to the terms of a specific existing oil and gas lease, but is not subject to any of the expenses of development, operation or maintenance.  An overriding royalty interest expires once the lease has expired and production has stopped, whereas minerals and royalty owners maintain their ownership after production stops.

Can Gulf Pine help me prepare documents?

We cannot provide legal advice or forms for conveying real property interests due to Laws of agency.  You should contact an attorney, Legal Aid Society, or your local Bar Association for assistance in document selection and preparation.

Why have I not received any money on a new well that is producing?

Payment is made as soon as complete title information is received but no later than the terms of the lease or state statutes allow.

What is the value of my land?

Gulf Pine cannot provide an appraisal as the value is a matter of opinion. You may contact a royalty broker or local banker in the county/parish where your lease is located.

Where can I find out about unclaimed (escheated) funds?

All states have laws that require the reporting of unclaimed funds belonging to owners who cannot be located. Please contact the applicable state(s) to reclaim funds that have been escheated and belong to you. A website you may find helpful is National Association of Unclaimed Property Administration www.naupa.org.

Can I change my mailing address online?

No, Address changes must be submitted in writing. Address Change forms may be found here.

What is a W-9 form and where can I find one?

A W-9 form is a request for taxpayer identification number and certification.  It must include your name, address, federal tax classification, tax identification number, signature and date. Please click here to view and print the form. Please note this document must have your signature to be valid. Once completed please either mail by post, email a scanned copy or fax it to us.