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Magnum Producing, LP

 

Frequently Asked Questions

How do I contact Magnum Producing, LP?

Magnum Producing, LP

500 N. Shoreline, Suite 322

Corpus Christi, Texas 78401-0313

Phone: (361) 882-3858

Fax: (361) 884-9355

 * For a detailed list with contact information of our various departments and personnel please refer to the contact page.

 ** Please have your Owner Number ready when calling. If our analysts are busy assisting other owners please leave a voicemail including your name, owner number, phone number, and a brief message regarding the reason for your call. We should contact you as soon as possible within the next 48 hours.

When were the revenue checks mailed?

The revenue checks are mailed on the 20th of each month. If you are scheduled to receive a check, please wait till the first week of the following month before contacting our owner relations department. Due to postal delays (holidays, weather, etc.), a check may take longer than expected to arrive.

What if I did not receive a check for this month?

Normally we only mail your checks on a monthly basis if/when your account accumulates a minimum balance of $100.00 or higher. Any account with a balance under $100.00 receives a check on an annual basis every 12 months from the receipt of their first payment.

What if my check is lost, stolen, or invalid (stale dated, damaged, etc)?

To protect your interests, we require that any requests necessitating the issuance of another check be made in writing. Please contact our accounting department if such an issue arises. They will research the matter and take the appropriate action.

Following is the contact information for our accountant in charge of handling such matters.

             Magnum Producing, LP

Attn: Roxanne Wood, Accountant

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: 361-882-3858 Ext 127

Fax: 361-884-9355

Email: roxanne@magnumproducing.com

What if my address changes?

To protect your interests, we require that any requests necessitating a change of address to which checks are mailed be accompanied with the completion of a Change of Address form. We advise that in case of an address change you contact us immediately as a postal forwarding order may not be sufficient. Please contact our accounting department for all queries regarding address changes.

Following is the contact information for our accountant in charge of handling such matters.

             Magnum Producing, LP

Attn: Roxanne Wood, Accountant

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: 361-882-3858 Ext 127

Fax: 361-884-9355

Email: roxanne@magnumproducing.com

What if I change my name?

In cases of individuals, changes of names are handled in accordance with specific situations.

 Marriages – Please provide a copy of your marriage certificate that includes your change of name (from and to).

 Divorces – Please provide a copy of your Divorce Decree reinstating your maiden name (from and to).

* If the property is divided by the divorce decree, we request that you send the decree in its entirety along with a recorded conveyance document.        

Court Order – If your name has been changed by Court Order, please provide a copy of the order for review.

           

In cases of companies or corporations:

Name Change: Please provide the Certificate of Name Change with verification of Tax ID.

Merger: Please provide the Certificate of Merger with verification of Tax ID.

In any case requiring a change of name please contact our Division Orders department. Following is the contact information for the Division Order Analyst in charge of handling such matters:

Magnum Producing, LP

Attn: Tina Marquez, Division Orders Analyst

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: (361) 826-0129

 Fax: (361) 884-9355

email: tina@magnumproducing.com

How do I add my spouse to my account?

In order to add a spouse to your account, we request that you provide a conveyance document stating in writing that you wish to add another member to your account. The document can be acquired through the county/parish where your mineral interests are located. Please contact our Division Orders Department for further information.

 Following is the contact information for the Division Order Analyst in charge of handling such matters:

Magnum Producing, LP

Attn: Tina Marquez, Division Orders Analyst

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: (361) 826-0129

Fax: (361) 884-9355

email: tina@magnumproducing.com

What if the Owner of Record passes away?

The guidelines on approaching such cases vary by state and are largely dependent on whether the decedent had a will. In any such case where the Owner of Record has passed away, please contact our Division Orders Department. They will advise you of the documentation required for ownership transfer based upon your specific situation.

Following is the contact information for the Division Order Analyst in charge of handling such matters:

Magnum Producing, LP

Attn: Tina Marquez, Division Orders Analyst

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: (361) 826-0129

Fax: (361) 884-9355

email: tina@magnumproducing.com

How do I transfer my interest to someone else?

In order to transfer your interest to someone else, we request that you provide a conveyance document stating in writing that you wish to transfer your interest to another individual or entity. The document can be acquired through the county/parish where your mineral interests are located.

What documentation do I need to transfer my interest into a trust?

In order to transfer your interest into a trust, we request that you please provide us with a copy of the Trust Agreement or Memorandum of Trust along with a conveyance document stating in writing that you wish to transfer your interest into a trust. The conveyance documents can be acquired through the county/parish where your mineral interests are located.

What if there is a change in the trustee?

In cases involving a change in the trustee, please provide us with a copy of the trust document in its entirety. We will review the document and take appropriate action. In such cases, please contact our Division Orders Department. They will advise you of the documentation required based upon your specific situation.

Following is the contact information for the Division Order Analyst in charge of handling such matters:

Magnum Producing, LP

Attn: Tina Marquez, Division Orders Analyst

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

 Phone: (361) 826-0129

Fax: (361) 884-9355

email: tina@magnumproducing.com

What is backup withholding and why was it deducted from my account?

IRS regulations require us to withhold a 28 percent of the gross proceeds from any payee who fails to provide a valid Social Security Number or Employee Identification Number. You must complete a W-9 form to provide us with a valid Social Security or Employer Identification Number to avoid further holdings of 28 percent on your account.

Following is the contact information for our accountant in charge of handling W-9 forms and backup withholdings:         

Magnum Producing, LP

attn: Roxanne Wood, Accountant

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: 361-882-3858 Ext 127

Fax: 361-884-9355

Email: roxanne@magnumproducing.com

Why does the amount of my royalty payment vary on a monthly basis?

Royalty payments are affected by numerous factors including, but not limited to, mechanical/operational problems, routine maintenance, weather conditions, etc. These factors may cause the gross product from wells to fluctuate, thereby, affecting your royalty payment. If you feel there is a problem with your check, please call our accounting department to discuss the issue.      

Following is the contact information for our accountant in charge of handling matters involving royalty checks:

Magnum Producing, LP

attn: Roxanne Wood, Accountant

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: 361-882-3858 Ext 127

Fax: 361-884-9355

Email: roxanne@magnumproducing.com

Why does my family member receive a different check when we have the same interest?

As per our policy, each individual’s account information is kept confidential. Therefore, we cannot discuss another client’s account with you. However, if you have questions regarding your account and how it is set up, please feel free to contact our main line.

What is the value of my interest?

Unfortunately, we cannot provide you with an appraisal for your interest. However, you may contact a royalty broker or a local banker for information on the matter.

What are unclaimed funds and how can I access them?

Unclaimed (or escheated) funds represent value that belongs to an owner who cannot be located. If you feel you have unclaimed funds that you are entitled to please contact the appropriate state authorities to reclaim them.

When should I expect to get my 1099 form?

Legally, we are required to send out the 1099 forms by January 31st. If you are scheduled to receive a 1099 form, please wait till the second week of February before contacting our Owner Relations Department. Due to postal delays (holidays, weather, etc.) the form may take longer than expected to arrive.

*If you have any questions about the form after receiving it or feel an error has been made, please feel free to contact our accountant in charge of handling matters involving 1099 forms:

Magnum Producing, LP

attn: Roxanne Wood, Accountant

500 N. Shoreline, Suite 322

Corpus Christi, TX 78401-0313

Phone: 361-882-3858 Ext 127

Fax: 361-884-9355

Email: roxanne@magnumproducing.com

If you have any further questions or comments, please feel free to contact us.