Did anyone else get notified at all that Diversified Gas & Oil out of Alabama has now acquired Tapstone and their royalty check is now half what it was? We didn’t get a letter or anything about this from either company. Our ACH deposit is all we have to notify us that Tapstone isn’t involved anymore.
Was not notified and did not receive anything until my check came in the mail and was also less than the previous months payments.
Part of the reason that your checks have gone down recently is that prices for oil and gas have gone down along with the normal decline in production. Make sure that you save your check statements from Tapstone and the new Diversified and compare to make sure the decimal amounts are correct. It can take a few months to get a transition straightened out so you want to check that all wells are accounted for.
Mine was ACH with no Production statement (stub) to compare anything to through the email they have on file for us. Tapstone used to send us all that and theirs was also ACH. I have written DGO via email addy on their website to see what is going on. What is weird is we also get checks from other companies and there has been no decrease on any of those in Kingfisher County. I have no way of checking a time period for DGO though. I expect at some point soon all checks to go down.
Also, is anyone familiar with a thing called Mineral IQ? It’s something I signed up for online and I thought it was similar to Energylink.com, but it is it’s own thing. Mineral IQ has given me supposed values for my royalties and what they are worth. They don’t seem to buy minerals themselves. I would just like to know more about them and if those values are accurate. Any info on Mineral IQ would be helpful. Thanks.
I never got notified and only found out through the MineralIQ software program (A mineral manage application I was offered) where it said the operator was Diversified. Anyway, I searched and found the Diversified website.
Go to: https://www.div.energy/ and under the Royalty Owners heading, you’ll find the following statement: Royalty Owners with Interests in Wells Formerly Operated by Tapstone Energy Diversified has started the revenue payment process in batches. This means that you may receive more than one direct deposit or physical check for September payment. We anticipate completion of the Tapstone revenue payment process by October 7, but will update this webage if that date changes.
Anyway, I also got a smaller payment which showed up under a different ACH title. I use EnergyLink, and it never posted my monthly statement. I called the customer service number for Diversified which is right on the royalty owner’s page. I didn’t have to wait long and the customer service rep gave me a new owner number and emailed information on how to logon to EnergyLink with the new information. He also sent me a new statement. The new Energylink account I created had the statement posted.
What is is, is a statement reflecting royalty payment for oil only, no gas or NGL. I’m assuming this is part of their completion process as noted in their statement, so hopefully I’m assuming correctly, they will issue another payment for the gas/NGL.
We shall see what happens. If anyone knows more than this, let me know! Hope this helps,
Mike
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MineralIQ and EnergyLink are both owned by Enverus. The “value” given by MineralIQ is only one of many ways to evaluate minerals. They post several multiples of revenue-high, medium and low. Some buyers use that metric and many do not. You will need an owner number to link the two. MineralIQ lags a day or so behind EnergyLink. They have been very helpful in getting accounts set up and synced. Be aware that they do not have all operators in their system, so their revenue number may not be the complete picture for every mineral owner. I consider it in the “ballpark” category.
For those of you that use the ACH system, your statements should always be tracked down-every one! Either through the operator or who they designate. You should save them for at least seven years for IRS purposes and for situations like this when you are trying to get through an operator transition. Minerals owners really do need to stay on top of what they should be earning. Do not assume that every document is correct. Double check or you could be losing money. You can save the statements in paper form or digitally, but SAVE THEM! Your accountant will be much happier. I am still tracking down revenue that mysteriously went missing during Covid.
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I have 5 VErtical Wells and a Horizontal. I did not receive Royalty payment for the VErtical Wells. Only the Horizontal.
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If your wells are in Oklahoma, you can look up the operator changes on the OCC well records website. They may not all have been bought by Diversified. Test. Look for Form 1073
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No Letter either but I saw on the Stock Market news Diversified closed the deal on 12/8/2021
If your wells are in Texas, you can look them up on the Texas Railroad Commission site.
I just received my first check from Diversified, so they are getting things processed.
Thanks my wells are in Oklahoma—Woodward County 35-23N-17W We had chatted on a Horizontal Well. Vesuvius. That was the only Royalty I got on 10/11/22. The other 4 wells showed production but no Royalty from Diversified. Production
Are your other wells Amalie, Andi Dawn, Teetzen, Cedar Canyon and Gypsum Hill (last prod May 2020)? Vesuvius has a surface location in 26.
Those are mostly gas wells. Give it a month and see if they start paying on them. Gas usually runs a bit behind oil in paying. You may have to contact Diversified and remind them of the others.
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Yes you are correct. I sent info of the production reports to Diversified last night. I hope to hear from them. Thanks for your help.
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