Having a lease with Pin Oak Energy creates a long term partnership that we take seriously. We will be respectful to your land, honest with our intentions and responsive to your concerns.
Our Partnership with the Environment
Our Partnership with the Environment Details
At Pin Oak Energy, we partner with landowners, regulators, service companies and local and state agencies to responsibly develop oil and natural gas reserves. We employ high standards of environmental stewardship, regulatory compliance and best oil and gas field practices. As a partner and corporate citizen of the communities in which we operate, Pin Oak Energy works to maintain a trusted, long-term relationship. We are committed to safe and responsible development, and take seriously any concerns you may have regarding your property, water resources and the safety of your community.
Pin Oak Energy believes that long-term success is achieved by treating landowners and lessors as valued partners, maintaining communication, and operating with respect for the environment. We strive for this success by promoting a safe and healthy environment for our employees, landowners, the surrounding communities, and by building quality, long lasting relationships.
We trust that you will agree that leasing and partnering with Pin Oak Energy is the preferred choice. Thank you.
How You are Compensated
How You are Compensated Details
A bonus payment is a one-time payment made to the Lessor, but only after we have confirmed your ownership to the oil and gas that you leased through comprehensive title research. The bonus payment is typically made after you have signed the lease and we have confirmed that you are the rightful owner of the oil and gas under that lease.
Landowner royalty checks related to the production and sale of oil and/or natural gas are mailed to all lessors who share an interest in a producing well. The sharing of that interest is typically as a result of being part of a production unit related to a given well(s). Your royalty is proportionate to the number of your leased acres in the entire production unit. If you have questions about your royalty check, please contact us.
Temporarily Withheld Royalties
Occasionally royalty payments are temporarily withheld when Pin Oak Energy receives notice of a change in ownership, such as a death, change of address, transfer (sale) of your property, assignment of interest or legal dispute. In instances such as these, payments are held until such time that all required documentation has been received by Pin Oak. Check below to determine what information is required.
Procedures for Landowner Changes/Transfers
Change of Name/Address
Change of Name/Address Details
- Copy of original marriage certificate.
- Internal Revenue Service Form W-9 in your new name.
- Copy of original Decree of Divorce stating name change.
NOTE: In case of divorce, proof of transfer of ownership (usually the divorce decree or Quitclaim deed) will be required before payments can resume. See "Transfer of Interest/Ownership Changes" below.
Corporate Name Change
- Certificate of Name Change.
- Internal Revenue Service Form W-9 with new name.
Merger, Dissolution, or Sale
- Certificate of Merger, if applicable; or
- Certificate of Dissolution or Withdrawal, if applicable; or
- Purchase and Sale Agreement, if applicable.
- Internal Revenue Service Form W-9 with new name and Tax ID.
Change of Address
For your security we will no longer accept address changes over the phone. Please send a letter with the following information to Pin Oak Energy Partners, Land Department, 209 South Main St., 5th Floor, Akron, OH 44308.
- Your notification letter should include:
- Your Tax ID Number (Social Security or EIN)
- The Legal Description of your property
- Your Old Address
- Your New Address
- Your Phone Number
- Your Original Signature
Your address change will take effect on the first of the month following our receipt of your letter.
If you are providing an address change on behalf of an interest owner other than yourself or your spouse, please provide appropriate documentation of your legal authority to act on behalf of that person (e.g., Power of Attorney or Guardianship).
Transfer of Interest/Ownership Changes
Transfer of Interest/Ownership Changes Details
All ownership changes must be filed of record in the County where the property is located. No transfer of ownership will be acknowledged until we have received a legible copy of the recorded documentation of the sale. Please refer to the table below for documentation required for different types of transactions. Mail the documentation to Pin Oak Energy Partners, Land Department, 388 South Main Street Suite 401, Akron Ohio 44311, along with the following information:
- Buyer's Name
- Buyer's Address
- Buyer's Phone Number
- Internal Revenue Service Form W-9 signed by Buyer
|Between Individuals||Copy of recorded conveyance (deed, quitclaim, etc.)|
|Seller or Buyer is a Trust||Copy of recorded conveyance (deed, quitclaim, etc.)
Documentation of authority of Trust representatives to make sale (usually a copy of the Trustee's Affidavit or Trust Documents).
|Seller or Buyer is an Estate||Copy of recorded conveyance (deed, quitclaim, etc.)
Documentation of authority of Executor to make sale (usually a copy of the court order creating the estate).
|Seller or Buyer is a Corporation||Copy of recorded conveyance (deed, quitclaim, etc.)
Documentation of authority of Officer to make sale (corporate bylaws, board resolution, or power of attorney).
|Creation of Trust/Partnership||Copy of recorded conveyance, if applicable
Copy of Partnership or Trust Agreement
Power of Attorney/Death of Owner
Power of Attorney/Death of Owner Details
We must receive documentation of the Power of Attorney or Guardianship with any document signed by the representative, unless we already have it on file. Documents required are:
Power of Attorney
- Copy of Power of Attorney granting the Representative's right to act on the owner's behalf.
- Name, address and phone number of Representative.
- Copy of filed court order appointing Guardian
- Name, address and phone number of Guardian.
Death of Interest Owner
All royalties and rental payments will be suspended upon notice of the death of an Interest Owner. Payments will be held until proper documentation of the settlement of the estate is provided to Pin Oak Energy.
Documentation of Death of Interest Owner
- Copy of Death Certificate
Documentation of Heirs
- Completed Internal Revenue Service Form W-9 (below) for all heirs; and
- Name, address and phone number for all heirs; or
- Completed and notarized Trustee's Affidavit (below).
Documentation of the settlement of the estate, including
- Copy of recorded Will or Probate Judgment; or
- Copy of recorded Transfer on Death Deed; or
- Copy of Trust Documents naming Successor Trustee; or
- Copy of Court Order creating estate and naming Executor with Sale Documents.
Other Changes/Procedures Details
- Copy of Order directing payment to bankruptcy trustee.
Lost, Stolen or Stale-Dated Checks
If a check is lost or stolen we can stop payment on that check at the request of the interest owner (processing fee applies). We can re-issue lost or stolen checks. Stale-dated checks can only be re-issued at the request of the interest owner. Re-issued checks of any kind are subject to a fee.