Direct Deposit

What is Direct Deposit?

Direct Deposit is an electronic method of payment where your funds are deposited directly into your bank account through the Automated Clearing House (ACH) Network.

What are the benefits of Direct Deposit?

Direct Deposit eliminates the handling of paper checks and manual deposits.  It reduces payment problems due to lost, stolen, mutilated or misdirected checks, and saves the time needed to make trips to the bank.  Your money transfers securely and directly into your account on time.  This service is provided to you at no cost.

If my oil and gas interest is held jointly, do we both need to sign the Direct Deposit Authorization Form?

Yes. For example, if the ownership is held in the name of Mr. and Mrs. John Jones, both parties must sign the Direct Deposit Authorization Form.

Can I direct funds to be deposited into a bank account in a foreign country?

No.  Burk is only offering Direct Deposit into any United States bank account that accepts ACH transfers.

Can I direct funds to be deposited in the account of another person or into a joint account?

You may direct funds to be deposited into any bank account of which you are a registered owner.  It can be an account owned solely by you or an account owned jointly with others.  Burk Royalty Co., Ltd. cannot deposit funds into an account in which you are not an owner.

Can I direct funds to more than one bank account?

No.  Burk can only provide deposits into one bank account for each owner number.

After turning in my Direct Deposit Authorization Form how long do I have to wait before I begin receiving my distributions by Direct Deposit?

Burk will process each request as soon as possible in the order received.  In the normal course of business, please allow 90 days for the first electronic distribution to begin.

Do I need to have an email address to participate in Direct Deposit?

Yes. Email address is a requirement.  Burk is asking you to provide your email so that we can email your check remittance. We will not disclose your email address to third parties.

When will the funds be deposited?

Burk Royalty Co., Ltd. processes revenue payments twice per month. Funds will be credited to your bank account within two days of processing.

How do I enroll to have my revenues directly deposited into my bank account?

Our ACH application form can be downloaded by clicking this link Burk ACH Application
. Please make sure all applicable parties on your Burk Royalty Co., Ltd. account sign the form. Return the form by email, mail, or fax using the information below.

Attention: Tina Hohfeld
Burk Royalty Co., Ltd.
P.O. Box 94903
Wichita Falls, TX 76308
Fax: 940-322-1934
revdept@burkroyalty.com

What if my Direct Deposit information changes?

It is required that you notify Burk with a new Direct Deposit Authorization Form. We will inactivate your original Direct Deposit instructions while the new instructions are being processed.  If there is a distribution that occurs while the new instructions are being processed, you will receive your distributions via check.

If an ACH is returned due to a closed account and Burk Royalty Co., Ltd. was not notified in advance, any bank fees incurred will be passed on to the owner and deducted from future payments.

How do I discontinue Direct Deposit?

Cancellation requests must be in writing. Please notify Burk by completing our Direct Deposit Authorization Form and selecting “Cancellation” for request type.

General

Where should my JIB payments be sent?

Joint Interest Billing (JIB) Payments should be mailed to:

Burk Royalty Co., Ltd.
P.O. Box 202647
Dallas, TX 75320-2647

How do I receive my Joint Interest Billing electronically?

Joint Interest Billing statements can be sent directly to your email address each month.  You may send your request to ownerrelations@burkroyalty.com Please include the owner name, owner code number and desired email address.

When are accounts payable checks processed?

Accounts payable checks are processed weekly.

How do I submit a name change?

Individuals
Requests for name changes for individuals must include the name on file with Burk Royalty Co., Ltd., your social security number and copies of documentation supporting the change (i.e., marriage certificate, divorce decree, etc.) Requests may be mailed, faxed or emailed to the number/address below.

Company/Corporation
Certificate of Name Change including TAX ID

What if ownership changes?

During the lifetime of a lease or well, there may be numerous changes in ownership. We make evidencing a change in ownership an easy process.
Disclaimer: Each leasehold/royalty interest is governed solely by the language in the individual written agreement between Burk Royalty Co., Ltd. and the leasehold/royalty owner.

SALE OF INTEREST
A copy of the document, filed of record in the county/parish in which the property is located, conveying the interest to the new owner.

OWNER DIES TESTATE (WITH A WILL)
Copy of the Death Certificate
Order Admitting Will to Probate
Letters Testamentary
Last Will and Testament of Decedent
Evidence that Debts and Taxes have been paid
Final Decree of Distribution or Judgment of Possession

OWNER DIES INTESTATE (NO WILL)
Affidavit of Heirship Form should be executed by two disinterested parties and recorded in the county/parish where property is located.
Copy of Death Certificate

TRUST/PARTNERSHIP CHANGE
Trust or Partnership Agreement: If appropriate, recorded document conveying the interest in a property to a Trust or Partnership
Dissolution of Trust or Partnership: If appropriate, a recorded conveyance to beneficiary
Change in Trustee: Recorded instrument whereby the successor trustee was appointed

SALE OF INTEREST
Conveyance filed of record in the county/parish where the property is located.

Why do the transfer documents have to be recorded?

In order to maintain the property chain of title in ownership and give third-party notice. Ownership changes can only be made after the transferring document has been filed of record in the county clerk’s office where the property is located.

How can I change my mailing address?

It is very important you keep us informed of an address change, even if you are receiving funds via direct deposit into your bank account. A correct address will allow you to receive future mailings and 1099 tax information. Address changes must be received in writing at the address below.

Burk Royalty Co., Ltd.
P.O. Box 94903
Wichita Falls, TX 76308

Revenue Owner Information

What is Burk Royalty’s Privacy Policy?

Due to recent upgrades to Burk Royalty Co., Ltd.’s Revenue Owner Privacy Policy, the company can no longer provide any information concerning revenue checks over the telephone.  If you normally receive a monthly revenue check and have not received your check by the 30th of the month, please notify Burk Royalty by mail or e-mail concerning this.  All correspondence of any nature must include your Owner Number, shown in the lower left-hand corner of your check stubs.  This is the same number as your Business Associate Number shown on your Division Order.

Who do I contact for more information?

Burk Royalty’s mailing address is:

Burk Royalty Co., Ltd.
P.O. Box 94903
Wichita Falls, TX. 76308

E-mail correspondence may be addressed to ownerrelations@burkroyalty.com.  This is for addressing missed checks only.  Requests for information regarding future checks will not be answered.

I haven’t received my payment. What should I do?

If your check is more than thirty (30) days late, contact Burk Royalty Co., Ltd. at ownerrelations@burkroyalty.com. 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 Burk Royalty Co., Ltd. To avoid postal delays, you may want to consider direct deposit for your payment.

When should I expect my 1099?

We mail 1099s on Jan. 31 of each year to each royalty owner reciving more than $10 or to each working interest owner receiving payments in excess of $600. If you do not receive your 1099 by Feb. 16 or if information on the 1099 is incorrect, email Burk Royalty Co., Ltd. at ownerrelations@burkroyalty.com

What do I do if my check is lost, stolen or becomes outdated.

Email ownerrelations@burkroyalty.com to stop payment if your check is lost or stolen. Please supply your name, owner number, check date and check number. If your check is outdated, void the check, and send it back to Burk Royalty Co., Ltd. (at the address below) with a written request for a new check.

Burk Royalty Co., Ltd.
P.O. Box 94903
Wichita Falls, TX 76308
Fax: 940-322-1934

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 Burk Royalty Co., Ltd.. You may want to consider direct deposit for your payment.

Why does my payment amount change?

Changing market conditions can cause price fluctuations, natural depletion, mechanical or operational problems or routine maintenance may temporarily affect production, causing downtime. If you have reason to believe an error has occurred, email us at ownerrelations@burkroyalty.com

When are payments made?

Payments are made in accordance with applicable State Statute. After the payment for initial production is made, Burk Royalty Co., Ltd. pays for oil and gas production when accounts accrue $100. Revenue owners who sign up for Direct Deposit are paid when their accounts accrue $10.  Checks are mailed around the 10th  and 25th of the month.

Checks not deposited after 12 months will be voided and placed in suspense or reissued if currently depositing checks.

Why would payments be suspended?

For your protection, payments may be occasionally suspended due to questions regarding your account. Examples of when such suspension could occur include, but are not limited to:

Check is returned for bad address
Title Dispute
During the process of transferring property
Death of an interest owner
Multiple outstanding checks

What are division orders?

A Division Order authorizes the sale of production (oil and/or gas) from a producing well and, pursuant to Texas statute, is sent to all royalty and working interest owners for their signatures. Division Orders include the interest of production owned by each party, their addresses, social security or tax identification numbers, and a legal description of the property on which the well(s) is located. You signature on the Division Order allows you to be put into pay status and begin receiving your royalty payments.