What are Royalties?
Royalties are the mineral owner’s proportionate share of production as reserved in an oil and gas lease.
If I have a question about my royalty check. Whom do I contact?
Triana Energy, LLC 900 Virginia Street, East Charleston, WV 25301 1-877-760-2032
What is a Division Order?
A Division Order is a document Triana Energy issues that provides the legal description of the property, the owner’s remittance address and tax ID information, if known, as well as the owner’s decimal interest in the property. The Division Order also sets forth the operator of the oil and gas lease(s). The Owner is asked to sign and return the Division Order to Triana Energy. Triana Energy uses this information to remit proceeds to the owner if Triana has the disbursement responsibility.
What do I do when I transfer my interest in a property?
Forward a recorded deed or instrument of conveyance to Triana Energy's Land Department in Charleston, West Virginia at the above address.
What happens if I change my address or marital status?
Address changes must be received in writing. Please send changes to Triana Energy's Land Department in Charleston, West Virginia. Include your name, old address, new address, and signature. Please include your owner number and social security number for verification. Please send a copy of your marriage certificate to update your name as a result of marriage.
What happens when the interest owner of a property dies?
Notify Triana Energy's Land Department in Charleston, West Virginia at the above address. Once notified, the deceased owner’s revenue will be held in suspense until the proper heirs can be determined. Triana Energy will then send you a package describing what must be provided to transfer the interest to the proper heirs.
What is a B-Notice?
Every year, the Internal Revenues Service (IRS) compares the information you provided them when applying for your social security number with the information we provided them when reporting your income (on IRS Form 1099). If the IRS finds a discrepancy, they will require Triana Energy to contact you in order to resolve the error. IRS records are confidential; therefore, the IRS cannot legally inform Triana Energy as to what specific discrepancy they found.
The First B-Notice requires you to return an IRS W9 to Triana Energy. On the Form W9, provide your name and social security number as it appears on your application to the IRS for your social security number. Normally, this resolves the discrepancy. Common mistakes include inverted numbers, name changes that were not reported to the IRS, and the use of a spouse’s social security number. Should the preparation of a Form W9 not resolve the error, the next year the IRS will require Triana Energy to send a Second B-Notice. This notice will require you to contact the IRS directly to resolve the discrepancy. Please notify Triana Energy once the discrepancy is resolved with the IRS.
When are royalties paid?
Once title is cleared, most royalty owners will be issued a monthly check within 90 days of receipt of revenue unless the amount due is less than $75.00. Smaller amounts are accumulated and paid when $75.00 has accumulated or at the end of each year.
What type of annual statements will I receive?
Royalty interest owners receiving more than $10.00 annually receive IRS Form 1099. This summarizes your total payments and tax withholdings for the previous year.
What do I do if my check is lost, stolen, or becomes outdated?
Call Triana Energy's toll free number at 1-877-760-2032 to stop payment if your check is lost or stolen. Please have the following information ready when you call: Your name, vendor or owner number, and check date. We will stop payment on your check and issue a replacement within 30 days. If your check is outdated, void the check and send it back to Triana Energy's Revenue Accounting Department at the address above with a written request for a new check.
Why does my monthly payment sometimes vary?
Many factors contribute to your payment, including, market conditions, fluctuating commodity prices, regulatory or contractual changes, production volumes, seasonal conditions and well downtime.
When are royalty payments suspended?
For your protection, payments are suspended upon a title dispute, the assignment of interest, notice of death, transfer of property, or in the event of no known address. Keeping your information current can prevent this inconvenience.
Taxpayer Identification Number
Federal law requires that individuals and partnerships provide a certified Taxpayer Identification Number (TIN) for the owner account. For additional owners, your TIN is your Social Security Number. Other entities should provide Employer Identification Numbers. If the appropriate TIN is not received, Triana is required to withhold 28 percent from your payment for federal income taxes.
Suspended Payments
For your protection, interest payments are occasionally suspended due to questions regarding your account. Such suspension occurs:
When your address is not current
When a title dispute is underway
During an assignment of interest
During a change in address
During a transfer of property
Address Change
It is important that you notify Triana’s Land Department in writing when you change your address. For more information, see Frequently Asked Questions.
Triana Energy, LLC 900 Virginia Street, East Charleston, WV 25301 1-877-760-2032
Payment Schedules
Most royalty owners receive a check monthly, unless the amount due is less than $75.00. Smaller amounts are accumulated and paid when $75.00 has accumulated or at least once every year.
