Please notify Venado promptly of any change in your mailing address. This notice must be in writing with your signature or the signature of your appointed agent. Please include your owner number, old address and new address, including the zip code. For your protection, address changes will not be accepted by telephone. Mail changes to:
Venado Oil & Gas
Attn: Division Order Department
13301 Galleria Circle
Suite 300
Austin, TX 78738
They are mailed on the 25th unless this day is a holiday or weekend; then they will be mailed on the first business day after the holiday or weekend. For example, if 7/25/XX falls on a Saturday, royalty checks will be mailed on 7/27/XX.
Please wait ten business days to give the mail ample time for delivery before contacting Venado. Other reasons for not receiving a check include that your interest may have been placed in suspense due to a bad address, transfer of interest, or title dispute.
Contact our Revenue Accounting Department to request payment if your check has been lost or stolen. Please have the following information ready when you call:
We will verify the status of your check with our Revenue Accounting Department and stop payment if the check is outstanding. If your check is over 90 days old, it will not be honored. Please void the check and return it with a written request to reissue to:
Venado Oil & Gas
Attn: Revenue Accounting Dept.
13501 Galleria Circle
Suite 350
Austin, TX 78738
Yes. Download the E-Pay Info form here and follow the instructions on the form.
We also require a signed W-9 to process royalty payments. Please download it here, complete and sign the form, then return it to us via mail, email, or fax.
Many factors contribute to your payment, including: market conditions, regulatory or contractual changes, diminished production, seasonal conditions, and downtime. It is important to know that most oil and gas production typically declines each month with the highest volumes occurring during the first few months after a well is turned on.
This may occur because ownership between family members is not exactly the same, because one party has not provided Venado with a Taxpayer Identification Number (TIN, or Social Security Number), or because some family members may own an interest in other producing properties in addition to those commonly owned.
Generally, state severance taxes are deducted. Further, if you do not provide us your Social Security Number, we may withhold federal income tax as required by the Internal Revenue Service. If you’re a non-resident alien, we may deduct federal income tax from your check.
Please note, unless you have failed to provide a Social Security Number, no federal income tax is withheld from your check. We strongly recommend that you consult with a licensed tax accountant or legal professional regarding tax obligations that accrue from your royalty payments.
The most common deductions are usually transportation or gathering charges to get the products to market.
Please visit the National Association of Unclaimed Property Administrator (NAUPA) website at www.unclaimed.org to locate and collect unclaimed funds in your name.
The reasons for suspending your revenue are: title dispute, death of owner, transfer of ownership, unknown address, unexecuted division order, legal requirement, lien, missing tax ID or Social Security number.
A Division Order is a directive signed on behalf of the Interest Owner verifying to the purchaser or operator of a well the decimal interest of production owned by the owner. It also provides the owner’s remittance address and taxpayer identification number.
Venado does not provide any type of valuation or opinion of your interest.
All heirship and conveyance documents must be filed of record with the county or parish where the property is located.