The important thing is not to stop questioning. Curiosity has its own reason for existing.
Some common Frequently Asked Questions include:
- Why do I need to contact Division Orders?
- I noticed that backup withholding was deducted from my revenue check. Why?
- I haven’t received my payment. What should I do?
- I found a stale-dated check. How do I get it re-issued?
- What do I do if a stop payment has been placed on my check?
- Why does my payment amount change?
- When can I expect payment for my new well?
- When is my Joint Interest Billing (JIB) statement processed?
- When should I expect my 1099?
Each situation is unique, and our Division Order department will be able to give you specific instruction on what to provide for instances related to new owner set-up and ownership changes. Informing Bluescape of all necessary changes related to deaths or any other situations regarding ownership interest as you become aware of them will eliminate unnecessary delays. If you have any questions about name changes due to getting married or divorced, putting your interest into a trust or transferring your ownership to someone else, or if there is a change in trustee, please contact us.
I noticed that backup withholding was deducted from my revenue check. Why?
Bluescape is required by the Internal Revenue Service to withhold 28 percent of all revenue payments to U.S. residents if the taxpayer ID number (or Social Security number) is missing or invalid. The number provided must match the name on the payment as indicated per IRS records. This information is required to be provided to Bluescape in writing. All backup withholding is reported on your 1099 at year-end, and it is considered a payment to the IRS on your behalf. Bluescape does not issue refunds for backup withholding. Royalty owners are able to report the withholding on their income tax returns at the end of the year. If you need to notify us of your valid Tax ID or Social Security number, please complete the form and return to us.
I haven’t received my payment. What should I do?
If your check is more than two weeks late, contact Owner Relations. You may be required to submit a written authorization to stop payment and re-issue the check. Once we place a stop payment on your check, it will be voided in our system and will no longer be honored by Bluescape. To avoid postal delays, you may want to consider direct deposit for your payment.
I found a stale-dated check. How do I get it re-issued?
Bluescape automatically voids and re-issues checks that are not cashed or deposited in 90 days. It is important that you cash your checks regardless of the amount prior to the 90-day mark. If you find a check after the 90-day mark, please contact us. You may want to consider direct deposit for your payment.
What do I do if a stop payment has been placed on my check?
Monies will be issued to you in the next available check process. Once we place a stop payment on your check, please do not attempt to cash the check. The check will be voided in our system and will no longer be honored by Bluescape. You may want to consider direct deposit for your payment.
Why does my payment amount change?
Changing market conditions can cause price fluctuations, while mechanical or operational problems or routine maintenance may temporarily affect production, causing downtime. If you have reason to believe an error has occurred, please contact us.
When can I expect payment for my new well?
Depending on the complexity of title and how active an area is, timing of first payments can vary. We always attempt to commence payments for the proceeds of production as soon as we are able and according to statutory limits for each state. If you have questions concerning payment for a new well, please contact us.
When is my Joint Interest Billing (JIB) Statement processed?
Joint Interest Billing statements are generally processed on the last day of the month and mailed the first week of the following month. If you are missing your JIB statement, please contact us.
When should I expect my 1099?
1099s are mailed on Jan. 31 of each year. If you do not receive your 1099 by Feb. 16 or if information on the 1099 is incorrect, please contact us.