We’re Ready to Serve You
At Genesis Crude Oil LP, we are dedicated to providing exceptional customer service for our clients and their royalty owners and working interest partners. In order to expedite your needs and provide answers to our most commonly asked questions, please review the information contained in our Frequently Asked Questions (FAQ) below.
If you require further assistance, you may contact us at 713-860-2500 and ask to speak to a representative of the Division Order Team. We are available to answer questions Monday through Friday from 8 a.m. to 4 p.m. Central Standard Time.
Q: How can I talk to a live person at Genesis Crude Oil LP when I have a question?
A: Please call us at 713-860-2500 and ask for the Division Order Team or send us an e-mail at division.orders@ genlp.com requesting a return call. When leaving a message or sending an email, be sure to include your Name, Owner number (if available), a phone number or email address where you can be contacted, as well as a brief description of your question or inquiry.
FOR YOUR PROTECTION
To prevent unauthorized access to your account information, we can only answer requests from the actual owner or the owner’s legally recognized agent (trustee, attorney-in-fact, etc.). Documentation verifying your right to act as an agent (trust agreement, power of attorney, etc.) is needed prior to your request being processed. All change requests must be submitted in writing and signed by the owner or owner’s agent.
Q: How long does it take to get an answer for inquiries?
A: Most inquiries can be answered within a day or two of the call. Depending on the complexity of the issue, some requests may require 30 – 60 days for a complete answer.
Q: What is the purpose of my “Owner Number?”
A: You have been assigned an exclusive owner number to distinguish you from Genesis Crude Oil LP’s other interest owners. When communicating with Genesis Crude Oil LP, please include your owner number.
Q: How much is my property worth?
A: Due to the many variables involved in determining the estimated value of your property, we cannot provide such valuations. We recommend you contact an oil and gas broker in the area where the property is located in order to obtain this type of valuation.
Q: When are checks issued?
A: Monthly checks are mailed on the 20th of the month, as long as the 20th does not fall on a Holiday or a weekend. If the 20th of the month is not a regular business day then the checks will be mailed on the Friday before (if the 20th is a Saturday) or the Monday following (if the 20th is a Sunday). If you have not received your check by the 15th of the following month, please call us at 713-860-2500 and ask for the Division Order Team.
Q: If my check is not cashed, is it really voided? How long do I have until it is voided?
A: Payments are automatically voided if they are not cashed within 180 days after issuance.
Q: What is the purpose of my “Owner Number?”
A: You have been assigned an exclusive owner number to distinguish you from Genesis Crude Oil LP’s other interest owners. When communicating with Genesis Crude Oil LP, please include your owner number.
Q: What do I do if I have a check that was not cashed within 180 days of issuance?
A: If you receive checks and one is not cashed within the expiration period, you should email us at division.orders@ genlp.com or call our Division Order team at 713-860-2500 to request a replacement check. The funds associated with the check that has expired will be reissued in the next revenue check process once notification has been received.
Q: What do I do when a payment is not received?
A: If payment has not been received by the 15th of the following month, please email us at division.orders@ genlp.com or call the Division Order Team at 713-860-2500. Please understand that if you ask for a replacement check, the original check will be immediately voided. This means that if the original check arrives the next day you should NOT CASH it as this check will not be honored by Genesis Crude Oil LP. Checks cannot be re-issued until 30 days after the issue date of the check.
There are other reasons that may impact the issuance of a payment. There are state laws that dictate when payment is required. For the most part, states have guidelines that do not require payment until the accrued amount is greater than $25. If your ownership information on file with Genesis Crude Oil LP is incorrect or not complete, your payment may be held in suspense. Also, adjustments to earlier payments can result in a negative account balance. In such an event, the negative balance will be carried forward until the account returns to a positive balance exceeding $25.00; at that time a check will again be issued.
Q: Why is backup withholding deducted from my revenue check?
A: A valid Tax Identification Number or Social Security Number must be provided to Genesis Crude Oil LP 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. To prevent this, please be sure Genesis Crude Oil LP has an executed W-9 form on file for you. You can find a W-9 form on our website under “Forms”.
Q: Why does the amount of my royalty payment change from month to month?
A: Changing market conditions can cause price fluctuations, mechanical problems, operational problems and routine maintenance can temporarily affect production, each causing possible downtime. Check amount may vary from month to month depending on production volumes, price of product, marketing arrangements, and changes in tax laws or adjustments that may occur. If you have reason to believe an error has been made, please email us at division.orders@ genlp.com or call 713-860-2500 and request to speak to someone on the Division Order Team.
Q: My check contains multiple corrections, help me understand these adjustments. Why does Genesis Crude Oil LP process payment adjustments?
A: It is Genesis Crude Oil LP’s policy to disburse revenue in accordance with your lease agreement and with state and federal statutes. If an error or discrepancy is discovered, a correction will be made and adjustments may result. For instance, a correction may be made if Genesis Crude Oil LP receives a revised production statement from the property or plant operator or revised pricing information from third parties. In such cases, an adjustment would be made to correct this discrepancy.
Genesis Crude Oil LP’s objective is to properly account for the property whether the adjustments result in an increase or a decrease in royalty.
Q: How do I change my name on your records if I get married or divorced?
A: Please utilize the Change of Name Request form on the form provided under “Forms”. A Marriage Certificate, Certified Divorce Decree, or Certified Court Order must be included with your request.
Q: How do I change an address?
A: Address changes must be made in writing and requires the signature of the account owner or the signature of the owner’s appointed agent. Please utilize the Change of Address Request form provided under “Forms”.
Q: I would like to add my spouse to my account. What is required?
A: If you want to add your spouse to your account name you may need to consult an attorney since these are normally estate planning situations.
Q: I don’t know my Owner number. How do I find it?
A: Your Owner number can be found at the top of your check detail. If you are unable to locate your Owner number, please contact Genesis Crude Oil LP with your name and last four digits of your SSN or your TIN. You can contact us by email at division.orders@ genlp.com or call 713-860-2500 and request to speak to a representative from the Division Order Team.
Documentation for ownership changes can be sent to us in the following ways:
Scanned and emailed to us at: [email protected]
Faxed to the Attention of Division Orders at: 713-860-2640
or sent via USPS: Genesis Crude Oil LP, Attn: Division Orders, 811 Louisiana, Suite 1200, Houston, TX 77002
Q: Estate proceedings – What do I do when the owner of record passes away?
A: Transfers due to death vary by state depending on whether or not the decedent had a will or not. Please see our Documentation Requirements provided under “Forms” for a list of the required documentation. The documents must be recorded in the county/parish and state where the minerals reside. A recorded copy of the documents and an executed W-9 for the new owner(s) must be provided. You can find a W-9 form provided under “Forms”.
Q: Ownership transfers – How do I transfer my ownership to someone else?
A: Interests can be transferred by Assignment, Donation, General Warranty deed, Quit-Claim deed, etc. Please see our Documentation Requirements provided under “Forms” for a list of the required documentation. The documents must be recorded in the county/parish and state where the minerals reside. A recorded copy of the documents and an executed W-9 for the new owner(s) must be provided. You can find a W-9 form provided under “Forms”.
Q: Trusts – How do I put my interest into a Trust?
A: We suggest you contact an attorney for legal advice regarding the creation of a Trust.
Q: Trusts – How do I notify Genesis Crude Oil LP of a change in Trustee?
A: Provide the portion of the Trust document that specifies who is successor Trustee as well as the duties and powers of the Trustee and circumstances leading to the replacement of the Trustee. Let us know if an address change is also needed. Please see our Documentation Requirements provided under “Forms” for a list of the required documentation.
Q: When are tax forms issued?
A: Tax forms are issued annually based on federal requirements. This is typically before January 31 for the prior year tax period. Corrections for voided payments are typically processed in early April and late July for the prior year tax period.
Q: How can I get another copy of my tax form?
A: To request a duplicate copy of your tax form, please email us at [email protected] or call 713-860-2500 and ask to speak to a representative from the Division Order team. Please ensure you include your name and Owner number on all correspondence.
Q: What do I do if my 1099 isn’t correct?
A: Please email us at [email protected] or call 713-860-2500 and ask for the Division Order team. Please ensure you include your name and Owner number on all correspondence.
Q: I think I might have unclaimed funds? What do I do?
A: All states have escheat or abandoned property laws that require the reporting and transfer of funds held for its citizens but unclaimed by them or those who have died leaving no heirs. To reclaim these funds, you must contact the applicable state agency.
The website for the National Association of Unclaimed Property Administration is located at: WWW.NAUPA.ORG
To Print Blank Forms for Fax, Scan, or Post please click the links below.
Scanned and emailed to us at: [email protected]
Faxed to the Attention of Division Orders at: 713-860-2640.
or sent via USPS: Genesis Crude Oil LP, Attn: Division Orders, 811 Louisiana, Suite 1200, Houston, TX 77002