“Truck tickets to 1099”


ExTex Division Order Services LLC has offered expert solutions for outsourcing professional support in the administration of oil & gas properties. Our team, with 30 plus years of experience, handles the netting of crude tickets, the application of price bulletins, issuing of monthly oil purchase statements, revenue distribution and monthly reconciliation. We set up and maintain all title and ownership transactions associated with the division of interest and any inquiries associated with them, including unclaimed property. All aspects of 1099s, state tax reporting, and federal / state royalty reporting are administered with accuracy. Our experienced staff is well versed in customer relations and can provide a superior level of service and support. ExTex provides you the time to concentrate on your core business.

From the well:

  • Netting of Crude Oil/Gas tickets
  • Importing of electronic Crude Oil/Gas ticket files and code
  • Maintain operator leases and tank strap database
  • Update and maintain monthly price bulletins and deductions
  • Provide customer support between the operator and purchaser for current month and prior period adjustments

Division Order/Title:

  • Develop and maintain divisions of interest for operators and purchasers
  • Issue and process division orders to ensure the accuracy of revenue payments
  • Maintain accurate title records and transactions
  • Validate owners EINs for accuracy
  • Maintain owner pay status and research owners that can not be found
  • Research and maintain exemption records
  • Process unclaimed property reporting and transactions
  • Serve as the liaison between the operator and purchaser for all owner questions and issues
  • Provide customer support for any changes in title or individual miscellaneous changes

Revenue Accounting:

  • Set up oil and gas properties detailing state, operator, API, tax, and any federal or state exemptions
  • Book final monthly run ticket data and revenue transactions against divisions of interest
  • Calculate state, federal, royalty, and existing withholding taxes
  • Book revenue data to each title deck and process monthly revenue payments to owners and operators
  • Provide revenue statements to owners and operators reflecting monthly sales

Tax Accounting:

  • Prepare and remit monthly production and severance tax reports to various states throughout the United States
  • Prepare and remit monthly tax payment via wire or check to various tax entities
  • Prepare and remit monthly and quarterly withholding reports
  • Provide detailed tax reports to our customers for their records
  • Prepare and remit royalty reports to various tax entities throughout the United States
  • Prepare yearly 1099s and DR21Ws for all customers with owner payments
  • Submit operator and purchaser’s year end tax documents to various tax entities in a timely manner