Payments are mailed or deposited electronically into your account on or around the 20th of the month. If that day is a weekend or holiday, the payment is instead mailed or deposited electronically into your account the next business day. If you are receiving payments via mail, please allow 10 business days to receive your check. Payments for a production month (both oil and natural gas) are normally sent out on or around the 20th of the month following the production month. For example, payments for the production month of January are sent out on or around February 20.
Minimum Payment Policy
The minimum payment amount is the lesser of $100, the minimum amount required by statute, or the minimum amount required by your lease. A payment will automatically be issued for the month your account accumulates this minimum required amount. Otherwise, you will be issued your accumulated payment in January of each year.
Market Conditions and Operational Issues
Payments will vary from month to month due to fluctuations in price, as well as varying production from individual wells. Payments also may be impacted by routine maintenance or operating issues, which may affect the volume produced from a well during a given time period.
Volume or price revisions may necessitate adjustments to your payment. If you were overpaid or underpaid, adjustments are necessary to correct the previous payment. It is a good idea to keep your check detail for future reference in the event that adjustments occur.
In the event of a revised division order, adjustments are processed according to the revision. If an owner was overpaid due to the revised division order, then the recoupment amount will be adjusted against the owner’s current-month payment. If the recoupment amount is larger than the owner’s current-month payment, the owner is said to have a “negative balance.” Adjustments made to correct overpayments are posted to a special account. Proceeds attributable to current production are also posted to this account to offset the negative balance. When the amount due the owner reaches the required minimum payment amount (usually $100), the owner will begin receiving checks again. The first check detail generated after a negative balance has been recouped will show the adjustments that caused the negative balance and the subsequent positive offsets.
On occasion, payments are held in suspense because of the transfer of a property interest from one owner to another, notice of death, lack of address, lack of TINC (tax ID number), or other legal issues. Amounts due are accumulated, then released when the matter in question has been resolved and EnLink Midstream has received and processed all related documents. All payments are retroactive to the date of the suspension.
If a valid Tax Identification Number has not been provided to EnLink Midstream, the Internal Revenue Service requires EnLink to withhold your payment until this information is provided. To request a valid Tax Identification Number, U.S. residents will need to file the W-9 form, while international residents will need to file the W-8 form.