ExTex Division Order Services LLC can help the crude oil purchaser cut down on overhead by reducing the need for an administrative staff. By utilizing our services, you can reduce such overhead costs as; employee wages, employee benefits, computer and software maintenance, and office space.
We are very efficient in how we do our business. We are fully automated so we can handle large accounts as well as small accounts with relative ease; this affords us the ability to offer you a low price on your monthly business. We are also very flexible, and can handle unique situations from demanding customers.
We currently handle over 30,000 owners on our database with approximately 16,000 leases, and process over 16,000 checks to owners a month.
With over 60 years combined oil & gas experience, our knowledgeable staff can handle any type of division order situations.
Our ticketing services include:
- Gather all daily run tickets
- Gather all necessary tank increments
- Gather all contracted pricing data
- Apply contracted prices to lease barrels
- Mail / e-mail Oil Purchase Statements monthly
Our revenue services include:
- Division Order preparation and maintenance
- MMS Reporting and MMS Royalty Reporting
- File state & Federal revenue and production reports
- Year end 1099 reporting
- Produce / mail monthly revenue checks
- File monthly tax reports
- Unclaimed Property (report and remit)
- Department of Energy Reports
Step by step process on how business works:
- Gather run ticket information from transporters either by code transfer or manual input.
- Apply contracted price bulletins to the lease barrels.
- Issue monthly Oil Purchase Statements to operators.
- We can also receive information from you (the purchaser) "Oil Purchase Statements" with barrels, gross value, and tax.
- Apply all production / sales against the division of interest.
- Produce and mail monthly revenue checks over an accrued amount of $25.00 per owner.
- Prepare and mail all necessary production and state / federal tax reports.
- Supply back to you the dollar amount of suspense records and dollar amount of checks written for the month.
- Supply a monthly reconciliation to you in any format necessary to fit your needs.