Land Owner FAQs

NOTIFICATION – CHANGES TO AN OWNER’S ACCOUNT

Please notify BKV Operating promptly of any change in your address. A change of Address form is to be filled out and returned to BKV Operating. The form will need to have your old address, new address, owner number, and signature. If there is more than one owner on the account, all owners are required to sign the form. For the owner’s protection, no address changes are accepted via telephone or email. Find the Change of Address form here.

Please submit a written request to change your name along with documentation supporting the change in your legal name. The submitted request will need to include your old name as it appears in our records and your new legal name. If the name change is due to marriage or divorce, the documentation will need to be a certified copy of the marriage certificate or divorce decree. In the case of additional documentation that may be required, you will be contacted by a BKV operating representative.

When transferring or acquiring an interest in property that is lease to BKV Operating, LLC, the Lessor has an obligation to timely notify the Lessee in writing of a transfer of ownership. A copy of the recorded documentation and proof of recording along with a w-9 form must be provided to BKV Operating in order to process the transfer and update or records. BKV Operating, LLC cannot process requests for retroactive changes in ownership. If additional information is required, you will be contacted by a BKV Operating representative. Please be aware that BKV Operating completes all ownership changes by the 15th each month and no changes will be made after the 15th until the following month. Find the W9 form here.

Please contact BKV Operating to notify so that the account can be placed into suspense pending the outcome of probate or estate administration.

If the owner died with a will (testate) and probate proceedings have been, or will be conducted in the state where the property is located, please provide the following:

  • Certified copy of the death certificate
  • Order issuing letters testamentary
  • Order admitting will to probate
  • Final decree, judgement, or personal representative deed distributing the estate

If the owner died with a will (testate) and probate proceedings are conducted in a state other than the state where the property is located, please provide the following:

  • Certified copy of the death certificate
  • Documentation of ancillary probate proceedings opened in all affected jurisdictions
  • Final decree, judgement, or personal representative deed distributing the estate

If the owner died without a will (intestate), please provide the following:

  • Certified copy of the death certificate
  • If the owner died intestate, please contact an attorney to determine the requirements for settling the estate and transferring the owner’s interest

In all cases, please provide copies of documents that effect the change in ownership that have been filed of record in the county in which the property is located.

ROYALTY PAYMENTS

BKV Operating, LLC assigns a unique owner number to identify each interest owner by social security number. When corresponding with BKV Operating, always include your owner number.

Royalty checks are typically mailed out at the end of each calendar month for payment of production occurring during the periods that are specified on the statement that is received with your check. Please note that it may take up to 60 days after the end of the month of first sales of production from a new well before royalties are paid. A check will typically not be issued if the royalties due are less than $50.00, except as required by law.

Your account either has not reached the minimum payment requirement of $50.00, or your account may be in suspense. Your interest may be in suspense for various reasons, such as there is reasonable doubt as to title, the owner has sold a portion or all of the interest, or there may be a question as to the identity or whereabouts of an owner.

Please allow at least 15 business days for delivery before reporting the check missing. If you suspect your check is lost or stolen, please contact BKV Operating at 1-833-BKV-LAND or BKVLAND@bkvoperating.com so a stop payment can be placed on the check. Checks must be cashed within 90 days of the issue date. If your check is outdated, please write VOID on the check and return it to BKV Operating, LLC at the address below for reissue. Include a letter with the voided check requesting that it be reissued.

Typical reasons may include, but are not limited to:

  • Oil and gas volumes and/or prices may vary from month to month
  • Operational reasons such as:
    • Routine maintenance or repairs
    • Weather conditions that may impact the volumes produced and sold
    • Shutting in of a well
  • Natural decline in production

If you have reason to believe an error in payment has occurred, please contact us 1-833-BKV-LAND or BKVLAND@bkvoperating.com.

BKV Operating, LLC will send out the IRS 1099 form to owners receiving more than $10.00 and working interest owners receiving more than $600.00 at the end of the calendar year that summarizes payments made throughout the year. The IRS compares the information the owner provides when reporting income and the information BKV Operating provides. 1099s are mailed on or about January 31 of each year. If you have not received your 1099 by February 14th or if you believe information on the 1099 is incorrect, please contact BKV Operating, LLC.

A 1099 form is required by the IRS to report various types of income other than wages, salaries and tips (which a W-2 form is used instead). The payor of royalties (usually the oil and gas company) is required to complete a 1099 form. Three copies are made: one for the payor, one for the payee, and one for the IRS. If the payor does not have the payee’s social security number or tax identification number, the payor is legally required to withhold state and federal income taxes. However, if the payee provides a tax ID number, they will collect the gross proceeds and pay the income taxes themselves. It is important to note that certain other taxes, such as transportation or severance taxes (where applicable), will be deducted in any case, as they are not income.