Peace of Mind
Get Financial, Legal, And Regulatory Protection With ExTex
To schedule a free consultation, please call (303) 463-8799 or fill out our contact form.
Division order administration goes far beyond “clerical” duties, carrying with it an infinite number of headaches, along with financial liability, legal exposure, and statutory compliance risk.
Fortunately, from the day you start using ExTex for your division order tasks and/or accounting, you get the peace of mind that comes with an umbrella of protection for financial, legal, and regulatory responsibilities.
The importance of this protection cannot be overstated! The risks might be more than you ever realized…
Financial Risks
Financial risks with division order management include:
- overpayment or underpayment of owner royalties
- mismanagement of suspense funds
- duplicate or fraudulent payments
- audit adjustments and revenue clawbacks
- penalties and interest
- audits
Legal Risks
Legal risks with division order management include:
- incorrect payments
- title interpretation errors
- royalty disputes and litigation
- class action exposure (for multi-owner claims)
- breach of contract claims (for payment non-compliance)
Regulatory Risks
Regulatory risks with division order management include:
- statute violations for late or improper royalty payments
- non-compliance for escheatment and unclaimed property
- 1099 and TIN (taxpayer identification number) errors
- state reporting violations
- recordkeeping and audit deficiencies
Full Range Of Division Order Services
We offer a full range of outsourced division order services, and we can take care of some or all of these for you.
Our services include:
- well services
- division orders
- title services
- revenue accounting
- tax accounting
We’ve Got You Covered
Since 1998, we have been providing division order services for oil and gas purchasers and operators of all sizes. We have the experience and expertise to get it right the first time, and in the rare instances when there is an error, we own it and we fix it!
We are SOC compliant, we have outstanding customer support, and we have a seamless onboarding process.
For more information, or to schedule a free consultation, call (303) 463-8799 or fill out our contact form.
ExTex Division Order Services, LLC is located in the Denver metro area (in Golden, Colorado), and we provide back office outsourcing services for oil and gas companies across the U.S. and Canada.
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“Each member of the ExTex family is a subject matter expert who can provide quick solutions to the often complex details of revenue distribution and severance tax reporting.”
Mark B, VP of Finance, Texas
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