Deed Transfer Requirements

 
General Questions:
 
What is a Deed? ANSWER: Legal document recorded in the county and state courthouse whereby the crude oil well is located that pertains to mineral ownership that whereby an oil and gas lease has been executed with an oil operator. CountryMark does not maintain records on the surface (land) since payments are issued on mineral rights.
 
How can I sell my ownership? ANSWER: Contact the surface (land) owner since they may want to minerals. CountryMark does not have this information in their records for surface (land) ownership. You can also contact the operator of the wells you have ownership to see if they want to purchase.
 
What do I need to send to CountryMark if I sell my mineral rights? ANSWER: Copy of the executed Deed that contains the recording stamp from the County Recorder’s office where the well is located.
 
What if I purchased Working Interest and have become the new designated Operator? ANSWER: Furnish CountryMark with a copy of the well transfer document from the State where the well is located. If not available, contact Division.Order@countrymark.com and advise of the change of Operator name.
 
When will my Deed be effective? ANSWER: The date of execution will be the effective date of the transfer unless noted in the body of the Deed, “Regardless of the date of execution, this document shall be effective Month/Day/Year”. Also, the effective date of the document pertains to the date of the crude oil purchases, not the payment date. Example: CountryMark purchases crude in 01/2018 but the Deed was not executed until 2/2018. All oil sold for 1/2018 will be paid to the prior owner. Starting with 2/2018 crude oil purchases, payments will be issued to the new owner.
 
What if my Deed is effective 1/1/2018 but I did not send my document into CountryMark until 4/1/2018? ANSWER: CountryMark is not responsible for payments made to prior owners due to untimely reporting by either party. Any settlement of payments made prior to notification to CountryMark will need to be made between the buyer and the seller.
 
How long should I wait to receive the new Division Orders? ANSWER: Allow four weeks for our company to process the changes and issue new Division Order. We will suspend payment on the account immediately so no future payments are issued until ownership has been transferred.
 
What is a Division Order? Crude Oil FAQS
 
 
How can I send information to Countrymark?
ANSWER: SEE BELOW. Allow four weeks for our company to process the ownership changes and issue new Division Orders.
 
Scan to: Division.Order@countrymark.com
Fax: 812.838.8175
Postal Service:
Countrymark Refining and Logistics, LLC
Attention: Division Order Department
401 Southwind Plaza
Mount Vernon, IN 47620
Telephone - 812.838.8150

 

 

  

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