General

What is the purpose of an Owner Number?

• Your owner number is specific to you and is tied to every Chaco well connected to you.

• Is is very helpful if you include your owner number in any correspondence or email you have with Chaco.

How do I change my bank information?

• Go to the “Forms” page to download and complete the form.

• Submit the form via email and make sure to mark the form as a change request.

What is a legal description?

• A legal description in the geographical description of property utilized for the purpose of identifying the location of real property.

• An example of location is:

  Section 12, Township 18N, Range 78 West also written as Sec-12-T18N-R78W or 12-18N-78W followed by the county and state.

How do I add beneficiaries to my account?

Unfortunately, you are unable to add beneficiaries to your account. Please consult with a qualified legal representative to assist in the estate planning process.

Where are you located?

We are located in Denver, Colorado.

What states do you operate in?

Colorado, Kansas, Montana, North Dakota, Nebraska, Oklahoma and Wyoming

I need a valuation of my interests. Can you tell me what my interest is worth?

Unfortunately, we cannot value your interests.

Joint Interest Billing

Where should I send my Joint Interest Billing payments?

Please mail Joint Interest Billing payments to:

Chaco Energy Company

P.O. Box 1587

Denver CO, 80201-1587

When do you mail my JIBs?

JIBs are mailed the last day of the month or the following Monday if the day falls on a weekend.

Payment Information

When should I receive my check?

Revenue payments are made the last business day of each month. Payments made via ACH direct deposits should be received within 1-3 business days of the payment being issued. Payments made via checks mailed through the USPS can take up to 15 days to receive.

What is the minimum payment amount?

• Monthly payments will be issued when an owner’s account reaches a minimum balance of $100.

• The threshold can be changed to $25 upon written request.

• Each February, we issue checks to all accounts with a balance of at least $1.

I see state withholding on my payment. Why is this being applied to my payments?

A few states require withholding on royalty payments for owners for owners who live outside of their state where the production occurs.

Can I set up direct deposit for my revenue check?

Yes. Owners can sign up to receive their payments through ACH by downloading, completing, and submitting the form from the Forms tab.

Why does my payment differ from others in my family?

• Ownership between family members may not be equal.

• One party has not provided us with a Tax ID (social security number or tax identification number).

• Stale dated checks, returned checks and/or address changes.

Can a check that is 180 days or older be cashed?

• Yes, if it is deposited by November of the year it was issued.

• Please contact us at 303-744-1480 if you are going to deposit a check toward the end of the year or in a different year than you are depositing it.

What if I don’t cash my checks?

If we are unable to locate or contact you, the check will be voided and your account will be placed in suspense.

When do you suspend payments?

• We do not have a Tax ID number for the account.

• We do not have a current, valid address for the account.

• We have received a transfer document related to the interest.

• We have been notified of the death of the account owner.

• We have received notice of disputes involving proper apportionment or ownership of the interest.

  Please note that we can only discuss your own account and not that of any family member’s account. '

Tax Information

When will IRS Form 1099 be issued?

The IRS requires that all payments issued in a given year be reported on a 1099 and issued on or before January 31st of the following taxable year, or the first business day thereafter if January 31st falls on a weekend. Please note that we are required to report payments based on the date payment was made, not when the payment was cashed.

What if there is an error on my 1099?

Contact us by calling 303-744-1480 or by emailing land@chacoenergy.com right away. You will need to provide the details of the error and what you believe the correction should be.

I didn’t get a 1099, why?

• 1099s are issued to royalty owners who have received a gross amount of $10 or more during the tax year.

• 1099s are issued to working interest owners and vendors who have received $600 or greater during the tax year.

How do I get a copy of my 1099?

• Please contact us at land@chacoenergy.com or 303-744-1480 and have your owner number and current address ready.

• If you are emailing us, please confirm how you would like to receive your 1099 (email or mailed to your house). If you want it mailed, please confirm your mailing address.

Change of Address Information

I recently moved, how do I change my address?

• All address changes must be in writing.

• You may download and complete the change of address form (under the Forms tab) and email it to land@chacoenergy.com or mail to:

  Chaco Energy Company

  Address Changes

  PO 1587

  Denver, CO 80201-1587

How long will it take to change the address in your records?

• We should be able to process any address change by the 20th of the month that we receive the change.

• We cannot guarantee the change will be completed for the current month revenue or billings if the address is received after the 20th.

You haven’t confirmed my address change, should I resend it?

Please do not resend any information unless requested by us as it slows down the processing.

Ownership Changes

If there has been a transfer of interest, when should I notify Chaco?

For information regarding Ownership Changes, please download the form under the “Forms” tab.