Division orders
Know who owns what, and keep it current.
Division order: the paper an owner signs to confirm the share, or decimal, they will be paid on. The share comes from the title records, not the division order. We keep every owner, share, and change on record.
20 clients and hundreds of wells operated
What you get
What lands on your desk.
- Every ownership type tracked WI, RI, ORRI, and NRI shares for each well.
- Changes dated right Each ownership change kept with its effective date, the day it starts to count.
- Owner records kept Addresses, W-9 forms, tax IDs, and how each owner wants to be paid.
- Division orders and decks Division orders and ownership decks made from your records.
Suspense list, Sample Operator LLC
| Owner | Why it is on hold | What releases it |
|---|---|---|
| Sample Owner A | Missing address | A new address from the owner |
| Sample Owner B | Unsigned division order | The signed division order |
How it works
Three steps.
Give us access to your books.
We are WolfePak proficient and can help you convert from QuickBooks or any other accounting software.
Send bills and statements as they come.
Forward vendor bills and buyer check stubs to your RedBird address. Or reply to our text with a photo or a file.
You approve. We close the month.
You approve every payment before it goes out, unless your agreement says otherwise. We close the books, and you get the Monthly Compliance and Close Report.
Compare
The old way vs RedBird.
The old way: Ownership changes kept in emails.
With RedBird: Each change kept with the day it starts to count.
The old way: Missing W-9s found at year end.
With RedBird: Owner addresses, W-9s, and tax IDs kept current all year.
The old way: Shares change without papers.
With RedBird: We change a share only from papers you give us.
The terms, in plain English.
- WI (working interest)
- An owner who pays a share of the costs and gets a share of the sales.
- RI (royalty interest)
- An owner, often the landowner, who gets a share of the sales and pays no costs.
- ORRI (overriding royalty interest)
- A share of sales carved out of the working interest. It pays no costs.
- NRI (net revenue interest)
- The share of the sales an owner actually gets paid on.
- Ownership deck
- The full list of owners and shares for a well.
Questions.
What is a division order?
Division order: the paper an owner signs to confirm the share, or decimal, they will be paid on. The share comes from the title records, not the division order. Owners sign it before payments start.
What happens when ownership changes?
We record the change with its effective date, the day it starts to count. Payments after that date use the new share. We change a share only from papers you give us.
Get started
Get your back office off your desk.
Tell us what you need. We look up the public record the state keeps on your operator number. Then we reply to set up a call.
20 clients and hundreds of wells operated