When are royalty payments processed?
Payments are processed at the end of each month. Payments are mailed or directly deposited if your account has reached the minimum pay amount, which in most cases is $100. Once your revenue reaches the minimum pay amount, a payment will be disbursed at the end of that month. Accounts that do not reach the minimum pay amount are paid annually at the end of the December.
What do I do if I haven’t received my royalty payment?
Please allow 30 business days for delivery by the US Postal Service before reporting a missing check. If your check has not arrived within 30 days, notify us, and the check will be voided 180 days after the check date. After the void, the funds will be reissued during the next month’s revenue process. A separate payment will not be issued, the reissued funds will be included with the next payment issued. PennEnergy encourages signing up for Direct Deposit to avoid such delays.
How to reissue a stale dated check?
Revenue checks are stale dated 180 days after issue. Mail the check to PennEnergy’s Land Administration Department, with a letter requesting a reissue.
Why does my payment amount vary?
Your payment will vary due to a number of factors including but not limited to, fluctuating commodity prices and production volumes.
How to withhold federal taxes from my royalty payments?
Federal tax withholding requests must be submitted in writing, signed, and include your Social Security Number. The Federal tax withholding rate as required by the Internal Revenue Service is 24%. If you have not provided a valid Social Security number or EIN we are required to withhold federal taxes.
For questions regarding Royalty Statements or taxes please contact:
For questions regarding 1099’s please contact:
How do I sign up for or update Direct Deposit?
Complete our Direct Deposit Authorization Form, include the required documentation verifying your bank account information, and return the form to PennEnergy via US Postal Service, email, or fax. For your protection, Direct Deposit requests are not accepted via telephone or without the required documentation.
After submitting my Direct Deposit form, when will my funds begin to be directly deposited?
Please allow 30 days for PennEnergy to process your Direct Deposit request.
Why should I sign up for Direct Deposit?
Your funds will be securely and directly deposited into your bank account on time, with no risk of your checks being lost or stolen.
When will my funds be deposited?
Your funds will be deposited to the bank account indicated on your Direct Deposit Authorization Form during the last week of the month if your account has reached the minimum pay amount.
How will I receive my royalty statements?
Your royalty statements will be mailed to you via US Postal Service. If you provide your email address on your Direct Deposit Authorization Form, you will also receive your royalty statements via email.
Does my spouse have to sign the Direct Deposit Authorization Form?
Yes, both parties must sign the Direct Deposit Authorization Form, if your oil and gas interest is owned jointly.
Does my name have to be on the bank account?
Yes, you must direct your funds to a bank account in the same name as the checks issued to you by PennEnergy.
Can I direct my funds to a joint bank account?
Yes, if you are one of the bank account holders.
Can I direct my funds to multiple bank accounts?
No, PennEnergy will only directly deposit funds into one bank account per PennEnergy payee number.
What if my banking information changes?
Notify PennEnergy of such change by submitting a completed Direct Deposit Authorization Form and include the required documentation verifying your new bank account information.
Please address correspondence to:
PennEnergy Resources, LLCLand Administration
1000 Commerce Drive
Park Place One, Suite 400
Pittsburgh, PA 15275