Landowners and / or their heirs must submit a W-9 form
Copy of Deed or Mineral Deed recorded in the records of Union Parish, from last owner of record in the paydecks
Document must contain recording information
Copy of Judgment of Possession that has been filed and recorded in Union Parish Courthouse
IF NO SUCCESSION HAS BEEN OPENED:
If no formal succession proceedings are planned, we can accept an affidavit of death and heirship (completed by a disinterested 3rd party) AND a certificate of death, filed together, in the Union Parish Courthouse
We accept only recorded copies of these documents
Copy of Judgement of Possession that has been filed and recorded in Union Parish Courthouse
IF NO SUCCESSION HAS BEEN OPENED:
A copy of the death certificate
In the event no formal succession proceedings are currently active, royalties will be placed in suspense until decedent’s will can be probated
Royalties can be resumed after a succession is opened and an executor has been named. At this point royalties will be paid to estate with the open succession until the Judgment of Possession has been rendered and the succession closed
The Owner Relations Department's number one priority is you. We are here to serve and assist interest owners with any issues or concerns.
We receive a wide variety of inquiries and requests daily, so please submit all inquiries and requests in writing or via email with the appropriate documentation attached. Along with those materials, please provide the owner name, contact details and the information on the property you own.
Email us at email@example.com
7709 Louisiana Highway 15, Farmerville, Louisiana 71241, United States
(318) 731-0000 Option 1
It would be a conflict of interest for Velandera to provide an assessment of value for its royalty owners. There are independent petroleum engineers who perform this service and they may also assist you in the marketing of your minerals, if that is your objective.
1099's will be mailed by January 31st.
A valid Tax Identification Number or Social Security Number must be provided to us for reporting and identification purposes. If it is not, the Internal Revenue Service requires withholding of 28% of all revenues (30% for foreign residents) until the information is provided.
Velandera normally remits checks when the amounts due exceed $100.00. If the check amount is less than this, we withhold the checks until the threshold is exceeded, but checks are sent at least once a year even if the check amount is less than the threshold.
Many factors may cause your payment to vary including, but not limited to market conditions, suspended payments, adjustments (including any overpayments or underpayments), fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and routine maintenance or operating issues which may affect the volumes produced from a well during a given time period.
Please contact Owner Relations Hotline (318) 731-0000 Option 1 or email us at firstname.lastname@example.org
An owner must accumulate a minimum balance in their account of $100 in order for a check to be issued. The minimum may be changed to $25 by letting us know in advance through email (email@example.com). In any case, all accounts are released once a year in January to release all suspense, no matter how small.
Owners will receive a 1099 statement for payment received in the prior year. 1099's are mailed out on January 31st.
Please contact Owner Relations Hotline at (318) 731-0000 Option 1 or email us at firstname.lastname@example.org
After gas is removed from a well, it is then processed at a gas plant to remove the Natural Gas Liquids. The remainder product is refered as "Residue Gas". The Well operator will then buy back this gas to operate on site equipment.