Request for individual name changes must be sent to the address below along with legal documentation supporting the changes, such as a recorded marriage certificate, divorce decree, or court order. Please also send an updated W-9 form.
Request for company name changes must be sent to the address below along with legal documentation supporting the changes, such as a certification of merger or name change. Please also send an updated W-9 form.
Name change requests are made by the 15th of each month, and change requests received after the 15th will be applied the following month.
To update your address, please complete the Change of Address form and scan a signed copy to ownersrealtions@360mining.com along with an updated w-9 form or the equivalent W-8 form (for non-U.S. persons). If there is more than one owner on the account, all owners are required to sign the form.
When transferring or acquiring an interest in a property that is leased to 360 Mining, the lessor has an obligation to make timely notifications to the lessee in writing of a transfer of ownership. A copy of the recorded documentation and proof of recording, along with a W-9 form must be provided to 360 Mining to process the transfer and update our records. 360 Mining cannot process requests for retroactive changes in ownership. If additional information is required, you will be contacted by a 360 Mining representative. Please be aware that 360 Mining completes all ownership changes by the 15th of each month and no changes will be made after the 15 until the following month. Documentation can also be scanned and emailed to ownersrelations@360mining.com.
Typical reasons for royalty payment variances include but are not limited to:
• Oil and gas volumes and/or prices may vary month to month operations reasons such as routine maintenance or repairs
• Weather conditions that my impact the volumes produced or sold
• Shutting in of a well natural decline in production
Yes, 360 Mining offers direct deposit to U.S. based individual and entities. Please use the Direct Deposit form to submit account information.
Please allow 15 business days for delivery before reporting a check missing. If you suspect your check is lost or stolen, please contact 360 Mining at ownersrealtions@360mining.com so a stop payment can be placed on the check. Checks must be cashed within 120 days of the issue date. If your check is outdated, please write VOID on the check and return it to 360 Mining to reissue a new check. Include a letter with the voided check requesting that it be reissued.
Your account either has not reached the minimum payment requirement of $50 or your account may be in suspense. Your interest may be in suspense for various reasons, such as there is reasonable doubt as to title, the owner has sold a portion or all of the interest, or there may be a question as to the identify or whereabouts of an owner.
Royalty payments are issued on or before the last business day of each calendar month. A check will typically not be issued if the royalties due are less than $50, except when required by law. Please note that it may take up to 60 days after the end of the month of first sales of production from a new well before royalties are paid.
360 Mining assigns a unique owner number to identify each interest owner. When corresponding with 360 Mining, always include your owner number.
Funds are escheated to the state if we do not have a valid address for the owner or if we can’t locate the heirs of a deceased owner.
Per the Railroad Commission of Texas, oil and gas operators in the State of Texas must report the below information with a royalty payment.
Section 91.502 (amended effective 9/1/2002)
1. Property Identification (Name, Number, or both; and County and State)
2. Sales month and year
3. Volume sold
4. Price per barrel or Mcf
5. Severance or other taxes deducted
6. Windfall profit taxes (repealed 1989)
7. Other deductions or adjustments
8. Net value
9. Owner decimal interest
10. Owner gross value
11. Owner net value
12. Address and phone number where additional information can be obtained
Common Situations
Ownership changes due to divorce
Sale of an Interest
Documents Required
Complete divorce decree including settlement agreement or recorded conveyance
Conveyance file in the county in which the property is located
Estate Proceedings
Owner died with a Will (testate)Probate proceedings conducted in the state where the property is located
Owner died with a Will (testate)Probate proceedings conducted in state other than where the property is located
Owner death without a will (intestate)
Laws of Descent and Distribution will apply as relevant
Documents Required
Death Certificate
Order Admitting Will to Probate
Letters Testamentary
Last Will and Testament
Evidence of payment of debts and taxes
Final Decree of Distribution or Judgement of Possession
All documents listed above, plus documentation of ancillary probate proceedings opened in all affected states, or Affidavit of Heirship
Death certificate
Letters of Administration
Affidavit of Heirship
Evidence of payments of debts and taxes
Trusts / Partnerships
Ownership by Trusts/Partnerships
Distribution from Trusts/Partnership
Change of Trustee
Joint Tenancy and One Dies
Documents Required
Trust or Partnership Agreement, recorded document conveying the interest in property to the Trust/Partnership
Dissolution of Trust or Partnership, if applicable, and recorded conveyances to beneficiaries
Instrument appointing successor trustee
Death certificate of joint tenant
Bankruptcies
Chapter 7
Chapter 11
Documents Required
Order naming trustee of bankruptcy estate
Plan of Reorganization
Order confirming the Plan of Reorganization
A 1099 form is required by the IRS to report various types of income other than wages, salaries and tips. The payor of royalties is required to complete a 1099 form.
We will mail all 1099 forms by January 31 of each year.
For royalty payments amounting to an annual payment of $10 and above, and working interest annual payments greater than $600, a 1099 will be provided.
Please contact ownersrelations@360mining.com to request corrections to your 1099 or a duplicate copy.
At least once every 12 months, all royalty payors in Texas should provide the below notice to each royalty interest owner to whom the payor makes a payment.
Section 91.504, Texas Natural Resources Code, gives an owner of a royalty interest in oil or gas produced in Texas the right to request from a payor information about itemized deductions, the heating value of gas, and the Railroad Commission of Texas identification number for the lease, property, or well that may not have been provided to the royalty interest owner. The request must be in writing and must be made by certified mail. A payor must respond to a request regarding itemized deductions, the heating value of gas, and the Railroad Commission of Texas identification number by certified mail not later than the 60th day after the date the request is received. An owner of a royalty interest in oil or gas may obtain information regarding production that has been reported to the Railroad Commission of Texas by contacting the oil and gas division of the commission or accessing the commission's website and providing the identification number of the lease and the county in which the lease is located.
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