Does anybody have any insight as to why Exxon/XTO has not paid December royalties (Oct production). It seems that even if no payment was due they would send a detailed statement to EnergyLink.
Check detail is only uploaded to EnergyLink when a check is issued. If an account is below the minimum, then when a check is issued later, the detail will cover all production months since the last check.
For what it’s worth this is what I got back from Exxon/XTO.
The reason why there was no check issued in December is related to a timing matter: revenue accountants booked revenue after the time in which the check write was processed.
The royalties for December are on payables and they will be included in your next check write.
Depending on when they are booked depends on when the properties will pay out.
There are multiple accountants that book for one owner, so it is unlikely that we can expect their bookings to sync up and fall in on deadline. Depending on the property, some oil teams book based on a severance tax deadline and not the close deadline for check write, so that can cause a variance in which check write the property is paid out.
Right, it’s just an overcomplicated answer that sounds like bookings and reversals could have occurred, or minimum check release is in play. Any adjustments, and all production, will reflect on your statement when you receive payment.