Royalties represent the interests retained by lessors under an oil, natural gas and mineral lease. Funds are payable on these interests based upon the value of a percentage of the minerals produced from the lease.
Clearing title is the process of verifying that you own the interest. Title is the legal right or evidence of the legal right to property.
A division order is a document confirming ownership information in a particular property/unit and authorizing distribution of funds according to that information. The division order does NOT represent a sale of your property or any changes to your lease.
When you sign and return the Division Order, you confirm that you agree with the information disclosed in the document. If you have any questions regarding the content of your Division Order, please contact PEDEVCO Corp's Land Owner Relations.
Interest may be transferred by a deed or, when appropriate, an assignment. The deed or assignment must be recorded in the county where the property is located. PEDEVCO Corp. must receive a recorded copy of the deed or assignment before changing our records and issuing Division Orders. You may want to have an attorney prepare these documents.
Address changes must be received in writing. Please send changes to PEDEVCO Corp., Attn: Land Owner Relations, 1250 Wood Branch Drive, Suite 400, Houston, Texas 77079. Please include your name, old address, new address, social security number and signature, and if you have been receiving revenue payments your six digit owner number reflected at the bottom left hand corner of your check detail. Please send a copy of your marriage certificate to update your name as a result of marriage or a divorce decree if your last name changed due to divorce.
In the event of the decease of the interest owner, please notify PEDEVCO Corp. and consult your attorney. Upon the notification, we will hold the deceased owner's revenue in suspense pending receipt of the proper probate documents from your attorney.
Payments will be made monthly to all owners with cumulative balances of $100 or more at the end of each month. Balances less than $100 will be released in December of each year so that payment is made at least annually.
Please allow (10) business days for your check to arrive in the mail. If your check is lost, stolen or becomes outdated, please call (713)-574-7905.
Each state makes an effort to locate rightful owners of production revenues through publication, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the National Association of Unclaimed Property Administrators ("NAUPA") website at www.unclaimed.org
Royalty interest owners receiving more than $10 annually receive IRS form 1099. This summarizes your total payments and tax withholdings for the previous year.
PEDEVCO Corp. operates through its subsidiary Red Hawk Petroleum, LLC. on its D-J Basin asset in Weld and Morgan Counties, Colorado.
All inquiries regarding land owner interests, please contact: