Payment Vouchers and Checks
A few days ago I received royalty checks from Silverhill production on wells in Caddo Parish, LA.The checks are actually prepared and mailed by another company in Pennsylvania that processes payments. I had been receiving vouchers with each check. Now I am instructed to signup on a site (Energylink) to view vouchers. However, the vouchers have not been posted on the site, very frustrating. It seems the companies should be required to provide this information along with the checks. I have several family members who depend on me to check the payments. I have found several errors in past payments that had to be corrected.
Views: 59
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant -
William, many operating companies now use EnergyLink to provide the details of price and deductions that previously were paper records that came with royalty payments whether you had automatic deposit or not. If memory serves, Silver Hill has been using EnergyLink for some time. Once you get entered in the system, it is an easy way to track the specifics of your royalty income. Outsourcing certain accounting and payment functions is a way for companies to reduce their overhead. I expect that all the operating companies will have moved to this payment and royalty detail model in the new year. I suggest that you go ahead and sign up for an account. We really don't have any choice in the matter.
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Permalink Reply by William Arnold
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I have signed up. Voucher information for past checks are there but not current checks.
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Permalink Reply by Skip Peel - Mineral Consultant
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I suspect the most current royalty details will be available soon. The more you use EnergyLink, the more you will come to know the timing of the monthly data. I like EnergyLink because it makes it simple for my clients to share their payment information when they have a question or a problem. The only worry that I have going forward is that Enverus has acquired EnergyLink. I've had problems with Enverus in the past and when they acquire another company, they tend to want to monetize it to its full extent. That's what happens when private equity takes over existing business models. It can be a problem!
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Permalink Reply by full name
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Some companies post details late. TGNR usually is a week or more after the deposit appears in my account. It makes no sense since the information is required to calculate the payment. Others post early. EXCO is usually a week or so before the deposit appears.
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Permalink Reply by Columbia1
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On line payment information is definitely a problem for my relatives / friends that are older, do not see real well, and are not very computer savvy. It seems that forcing these folks to not have a printed copy provided can be considered an elder abuse issue on the part of the companies, and I wonder when someone will complain to the right legislator / judge with that argument.
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