Home | Contact Us | Site Map

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Interest Owners

CHANGES

A change in the life situation may result in either a change of ownership or a change to owner
status. Should any of the following situations occur, we may require documentation to effect the
change please review common circumstances and their respective requirements, but note that
certain jurisdictions may have differing legal requirements, and in certain circumstances we may
require documentation in addition to or in lieu of the documentation listed below.


Please submit all changes in writing to
Ward Williston Oil Company
Attn: Division Orders
36700 Woodward Ave. Suite #101
Bloomfield Hills, MI 48304


NAME OR ADDRESS CHANGE

Circumstance Please Submit
Address or Bank Change Change request in writing with your signature
Individual Name Change Due to Marriage, Divorce, etc. Marriage certificate, divorce decree reinstating
maiden name, or other document affecting
name change.
Company or Corporation Name Change Certificate of name change including tax ID
Company or Corporation Name Change Due to Merger Certificate of merger including tax ID



SALE OR OWNERSHIP CHANGE DUE TO DIVORCE

Circumstance Please Submit
Sale of an Interest Conveyance filed of record in the county
in which the property is located.
Ownership Change Due to Divorce Instrument whereby the successor trustee was
appointed.



TRUST OR PARTNERSHIP CHANGES

Circumstance Please Submit
Trust or Partnership is Created Trust or partnership agreement and recorded
document conveying the interest in a property
to a trust or partnership
Trust or Partnership isTerminated Dissolution of trust or partnership and, if
appropriate, recorded conveyances to
beneficiary.
Changes in Trustee Instrument whereby the successor trustee
was appointed.



DEATH OF JOINT TENANT

Circumstance Please Submit
Joint Tenancy and One Dies Death certificate of joint tenant



ESTATE PROCEEDINGS

Circumstance Please Submit
Owner died with a Will (testate) and probate
proceedings are to be conducted in the state
where the property is located.

1. Death certificate

2. Order admitting will to Probate

3. Letters testamentary

4. Last will and testament
5. Final decree of distribution or judgement
of possession

Owner died with a Will (testate) and probate
proceedings are to be conducted in a state other
than the state where the property is located.
1. Death certificate
2. Last will and testament
3. Letters testamentary
4. Order admitting will to Probate
5. Final decree of distribution or judgement
of possession.
6. Documentation of ancillary probate
proceedings opened in all affected states or
or affidavit of heirship.
Owner died without a Will (intestate)
Laws of descent and distribution will
apply as relevant.
1. Death certificate
2. Letters of administration
3. Affidavit of heirship
4. Life tenant's death certificate
5. Name and address of remaindermen


BANKRUPTCIES

Circumstance Please Submit
Chapter 11

Plan of reorganization

Chapter 7 Recorded conveyance (as appropriate) and an
order naming trustee of bankruptcy estate.


FAQS

What is a Division Order?
A Division Order is a written contract that directs the distribution of proceeds from the sale of oil
and gas. Among other things, the Division Order:

  • Describes the specific property involved
  • Specifies the ownership interest of individual owners
  • Outlines the basis for distributing proceeds that result from the sale of oil and/or gas
    production from that property.
  • Establishes certain responsibilities between the parties
  • Does not alter or amend an oil and gas lease


When should I return the Division Order?
Please be sure to sign and return the Division Order as soon as you are satisfied that it contains:

  • An accurate legal description and decimal interest for your ownership
  • The correct spelling of your name
  • Your current mailing address
  • Where you want your revenue sent if different than your mailing address
  • Your taxpayer identification number
  • Any other information required by the law of the state in which your land is located.


How do I change my address?
Please notify us promptly of any change in your mailing address. Please be sure the notice:

  • Is in writing
  • Contains your signature ofr the signature of your appointed agent
  • Includes your owner number
  • Specifies your old address and new address including zip codes
  • Specifies an effective date of this change


For your protection, address changes are not accepted by telephone. Please mail changes to Ward
Williston Oil Company, 36700 Woodward Ave. Suite 101, Bloomfield Hills, MI 48304.

 

PAYMENTS


How is my interest calculated?
Your proportionate share of production from a well is calculated based on the net acres you own in
the spacing unit established for the well multiplied by the base royalty provided for in your leases
(subject to your lease provisions). For example, if you own 10 net acres in a 640 acre spacing unit
and your lease provides for a 3/16 base royalty your interest is a .0029296 decimal interest
(10/640 x 1875).

 

How much will my check be worth?
No one can accurately predict whether a well will be productive or if productive how many barrels of
oil it will produce.

 

When can I expect my check?
It can take up to five months or longer from the first sale of your well before you receive a check
depending on the state in which the well is located. After the first sale, monthly checks for oil
revenues are mailed on or around the 25th of each month. If you have not received your oil
revenue check by the last day of the following month, please call our Revenue Department at
248-594-6622.

 

I haven't received my check, can you tell me why?

The most common reason is that your account balance has not reached your set minimum pay level
under your lease or applicable law. All balances over $25, but less than set minimum pay levels
are paid annually in December. Balances under $25 are paid when required by law.

 

Why does my payment amount change from month to month?
A number of factors can influence your payments each month, including:
Fluctuations in prices received and volumes sold due to changing market conditions.
Normal production declines as a property ages
Temporary mechanical or operating challenges affecting production
If you notice a significant change in the amount of your payment and you have reason to believe
an error has occurred, please contact the Revenue Department at 248-594-6622.

 

Can I set up direct deposit?
Not at this time. Look for updates.

 

What are "stale dated" checks?
Our revenue checks are not negotiable after 90 days. If you did not deposit your check within
that time frame, we must re-issue the check. Please return the check to our Revenue
Department and we will take the necessary steps to include this amount on your next revenue
check. There is a $50 fee for lost checks.

 

Where can I research unclaimed funds?
Each state makes an effort to locate the rightful owners of production revenues through an organization
that holds the funds until the owner is found. to locate and collect unclaimed
funds, please visit the National Association of Unclaimed Property Administrators (NAUPA) at
www.unclaimed.org

 

TAXES


When can I expect my 1099 form?
We will mail your 1099 information each year by January 31st.

 

MINERALS


What determines Ward Williston Oil Company's preference in some acreage over others?
There are many considerations in determining our interest in acreage. These include but are
not limited to:
* Geological considerations
Proximity to pipelines and other infrastructure
Whether the prospect is primarily oil or gas

Competitive factors
Other business considerations

 

If you are interested in leasing with us, please call 248-594-6622.

 

WELLS


How long will the rig be on my property?

The following timelines are estimates, but should give you a general guide for the process.
From site build to completion, you can expect 4-5 months or more of activity on your property.

 

Up to 30 or more days for construction of the site
Up to 70 or more days to reach total drilling depth
Up to 30 or more days to complete the well

 

How long does it take between the time I lease and the time you drill?
While there is no assurance that all leases will be drilled, there are many factors that determine
the time it takes to drill. These include but are not limited to:

 

*Whether we need to conduct seismic
*Preparatory work (geologists, engineers, land men)
*Availability of drilling rigs
*Availability of service companies to help us complete wells
*Pipeline and railhead capacity for transporting the resources we produce

 
 
Copyright 2011 Ward Williston Oil Company. All rights reserved.