Owning mineral or lease interests can feel like a complex dance, and when you're dealing with an operator like Hilcorp, understanding how to best manage that relationship is key. It’s not just about receiving checks; it’s about clear communication, accurate information, and knowing where to turn when questions arise.
Many owners find themselves wondering about the basics. For instance, locating your owner number is often the first step. Hilcorp makes this straightforward: it’s right there on your revenue statement, usually in the top left corner, an 8-digit number starting with '80XXXXXX'. They did update this system in January 2021, so if you're looking at older statements, you might notice a difference. And if you haven't provided your Social Security Number or Tax Identification Number yet, a W-9 form is the way to go, which you can then email to ownerrelations@hilcorp.com. Just a heads-up, not providing this can lead to backup withholding, as per IRS regulations.
Receiving your revenue statement is also a common point of inquiry. Hilcorp strongly suggests registering on their EnergyLink Online System. It’s a fantastic resource for pulling up both current and past statements. All you need to get started is your last check and that owner number. Generally, statements are only issued when a payment is due, unless you're a netted working interest owner, in which case you'll get one monthly. It’s all about making sure you have the information you need, when you need it.
For those with interests in the San Juan Basin, there are specific considerations. You might encounter a C-115B Notice, which relates to reporting monthly venting and flaring volumes. The New Mexico Oil & Gas Conservation Division (NMOCD) has an online portal where you can access this information. If you're curious about the 'Natural Gas Waste Rules' (19.15.27.8 NMAC), the NMOCD website is the place to find detailed information.
Delays in gas balancing statements have been noted, stemming from an ongoing accounting system conversion. Hilcorp assures owners they are working diligently to speed this up and will provide updates. If you believe you're owed gas and your 'available-for-sale' volume isn't reflecting it, it's currently based on your ownership percentage of current production. Once the system conversion is complete, these balances should be adjusted. For specific inquiries, reaching out to westscheduling@hilcorp.com with proof of your ownership interest can help expedite a response.
Changing gas marketers is another area where Hilcorp is developing a more routine system. For now, if you have a specific issue, the marketing group at westscheduling@hilcorp.com is available to discuss it.
When it comes to managing your account information, Hilcorp offers direct deposit, which can certainly streamline things. You'll need to fill out an Owner Intake Form, and then you'll receive instructions from their new vendor, PaymentWorks. The process can take up to 90 days for approval, and you can track your submission status through your PaymentWorks account. They've partnered with PaymentWorks to enhance the automation and control around owner direct deposit onboarding, aiming for a smoother experience.
Ultimately, Hilcorp's Owner Relations section is designed to be a resource. By providing clear FAQs and links to necessary forms, they encourage owners to find answers proactively. It’s about fostering a transparent and efficient relationship, ensuring that owners have the tools and information to manage their interests effectively.