How to Read Your Revenue Check Stub
Legends, Codes, and Explanations
Explanation of Numbered Items on Owner Remittance Advice
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
Payee Name – Name of Owner
Owner Number – The unique identifier of each owner
Check Number – The unique check identifier
Check Amount – The total amount of the check
Check Date – The disbursement date of the check
Definition of Oil and Gas Payment Codes
Property Identification – Property Number and Name
State – State location of property
County – County location of property
Operator – Operator of property
Production Date – Month/Year production was sold
Product Code – Type of product sold
Vol Type – Type of volume sold
Legend Code – The “LC” column contains both Legend Codes and Adjustment Codes. Full listing of
these codes is provided in the Definitions (6).
Gross Information:
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
Gross Volume – Sales Volume
Price – Calculated by dividing Sales Value by Sales Volume
Quality – Heating value of the gas used to convert MCF (1000 cubic feet) to MMBTU (MCF X BTU)
Gross Value – Sales Value
Adjustments – Total tax and marketing cost deducted from Gross Value
Adjustment Code – Code associated with detailed breakdown of tax and marketing cost (21), full
listing provided in Definitions (6). The Adjustment Code appears on the check in column “LC”.
Adjustments – Detailed breakdown of total tax and marketing cost (19) deducted from Gross Value
Net Value – Gross Value minus Adjustments
Owner Information:
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
Disbursement Decimal – Owner’s share of the remitter’s marketed volumes
Owner Decimal – Record Title Ownership Percent
Int Type/Seq – Type and Sequence of interest being paid
Rmtr – The remittance company if not BHP Billiton
Net Volume – Sales Volume x Disbursement Decimal
Gross Value – Sales Value x Disbursement Decimal
Adjustments – Total tax and marketing cost deducted from Owner Gross Value
Adjustments – Detailed breakdown of total tax and marketing cost (29) deducted from Owner Gross
Value
Net Value – Owner’s Gross Value minus Owner’s Adjustments
OWNER REMITTANCE ADVICE
BHP BILLITON PETROLEUM (FAYETTEVILLE) LLC
LAND DEPARTMENT
sample
P.O. BOX 22719
HOUSTON, TEXAS 77027-9998
Page 1 of 2
877-311-1443
Email Address:
[email protected]
(2) 800000000
(3) C00500100
(4) $105.18
(5) 06/30/20XX
160839 0527 1 000001
0
0
0
0
0
1
(1) ROYALTY OWNER
123 MAIN STREET
CITY, AR 12345
(6)
PRODUCT CODES
100
103
200
201
202
203
204
206
207
300
303
400
401
405
406
407
409
40C
Oil (BBLS)
Skim/Scrub/Drip Oil (BBLS)
All Gas Products (MCF)
Gas Well Gas (MCF)
Casinghead Gas (MCF)
Wet Gas (MCF)
Residue Gas (MCF)
Flash Gas (MCF)
Extracted Carbon Dioxide (MCF)
Condensate (BBLS)
Skim/Scrub/Drip Condensate (BBLS)
All Plant Products (Gals)
Ethane - C2 (Gals)
Propane - C3 (Gals)
Iso-Butane - IC4 (Gals)
Normal Butane - NC4 (Gals)
Natural Gasoline - C5+ (Gals)
Manu. Plant Condendsate (Gals)
VOLUME TYPES
03
DEFINITION OF OIL & GAS PAYMENTS
INTEREST TYPES
BI
BL
CR
CW
MI
NP
OC
OO
OR
OU
OW
PP
PR
RI
RO
RT
RU
UK
UU
WI
WR
Billing Interest
Blanchard Interest
Compensatory Royalty
Carried Working Interest
Unleased Mineral Interest
Net Profits
Override Convertible
Other Operator
Overriding Royalty
Override (Unsigned)
Override Working Int
Production Payment
Partnership
Royalty Interest
Reversionary Royalty
Royalty TIK
Royalty (Unsigned)
Unleased (Known)
Unleased (Unknown)
Working Interest
Working (Other)
Sales
CHECK STUB DETAIL
Production Date
Product Code
Vol Type
LC
GROSS INFORMATION
Gross Volume
Price
Quality
Gross Value
Adjustments
Net Value
OWNER INFORMATION
Disb Dec
Owner Dec
Int Type & Seq
Rmtr
Net Volume
Gross Value
Adjustments
Net Value
Month/Year production was sold
Type of product sold
Type of volume sold
Legend Code, special distribution indicator
ADJUSTMENT CODES
CN
FE
FP
PR
RF
SV
UI
WP
E1
E2
E3
E4
E5
E6
E7
E8
E9
E0
I1
I2
I3
I4
I5
I6
I7
I8
I9
I0
0
0
1
/
0
0
1
Conservation Tax
Environmental Tax
Federal Pollution Tax
Production Tax
Restoration Fee
Severance Tax
Unclassified Tax
Windfall Profits Tax
External Compression
External Dehydration
External Treating
External Gathering
External Transportation/MF
External Transportation/Royalty Deducts
External Fuel
External Service Fee Marketing
External Service Fee Accounting
External Other
Internal Compression
Internal Dehydration
Internal Treating
Internal Gathering
Internal Transportation/MF
Internal Transportation/Royalty Deducts
Internal Fuel
Internal Service Fee Marketing
Internal Service Fee Accounting
Internal Other
Sales Volume
Calculated by dividing Sales Value by Sales Volume
Heating value of the gas used to convert MCF (1000 cubic feet) to MMBTU (MCF x BTU)
Sales Value
Adjustments - detailed breakdown of total tax and marketing cost deducted from gross value
Gross Value minus Adjustments
Owner's share of the remitter's marketed volumes
Record Title Ownership Percent
Type and Sequence of interest being paid
The remittance company - if not BHP Billiton
Sales Volume x Disbursement Decimal
Sales Value x Disbursement Decimal
Adjustments - detailed breakdown of total tax and marketing cost deducted from owner gross value
Owner's Gross Value minus Owner's Adjustments
LEGEND CODES
IE
10
17
A3
CO
EP
LV
NB
XX
02
03
11
12
15
Interest Payment
NRA/ Back-up Withholding
Miscellaneous
Special Payments / Settlements
Check Received from Owner
Escrow Payment
Levies
Negative Balance Elimination
Before PRA Recording
Ad Valorem Direct Recovery
Ad Valorem Accrual
Excess Royalty Reimbursement
State Tax Withheld
Compensatory Royalty
OWNER REMITTANCE ADVICE
BHP BILLITON PETROLEUM (FAYETTEVILLE) LLC
LAND DEPARTMENT
P.O. BOX 22719
sample
HOUSTON, TEXAS 77027-9998
Page 2 of 2
877-311-1443
Email Address:
[email protected]
160839 0527 1 000001 000001 001/001
Property Identification
State
Product
Code
Vol
Type
L
C
Gross
Volume
Price
Quality
(7) P1A286 / 00200 - WIGGS 8-6 1-20H
07/2012
203
IE
Gross
Value
OWNER
Adjustments
Net Value
(8) ARKANSAS
0.00
00.0000
.000
$0.00
(9)
$0.00
$0.00
(14)
03/2013
200
03
671.00
2.9158
0.000
203
03
2,907.00
02.8512
0.996
(11)
(12)
(13)
(15)
(16)
(17)
$1,956.49
$8,288.35
(18)
CN
Gross
Value
Net Volume
Adjustments
$71.85-
$1,884.64
BL 01
0.00
$0.00
$5.00
$5.00
0.01043693
BL 01
7.00
$20.42
$0.75-
$19.67
0.01043693
BP AMERICA PRODUCTION COMPANY
(26)
$2,958.83-
$5,329.52
(19)
(22)
$84.89-
(21)
E3
$0.75-
0.01043692
BL 01
30.34
$86.52
$5.96-
$80.56
0.01043693
(25)
(27)
(28)
(29)
(31)
$0.27-
(23)
$0.89-
(24)
$2,171.48-
(30)
$0.00-
E5
$439.22-
$4.59-
E7
$19.33-
$0.21-
E8
$217.74-
03
Net
Value
(10) BHP BILLITON PETROLEUM
0.00000000
$26.17-
SV
203
Int Type/
Seq /
Rmtr
WHITE
$71.85-
04/2013
04/2013
Disb Dec /
Owner Dec
AMOUNTS
0.00000000
UI
(20)
Operato
r
County
GROSS AMOUNTS
Production
Date
(2) 800000000
(3) C00500100
(4) $105.18
(5) 06/30/20XX
Owner Number:
Check Number:
Check Amount:
Check Date:
(1) ROYALTY OWNER
123 MAIN STREET
CITY, AR 12345
572.00
00.0000
0.000
$0.00
$5.14-
$0.00$5.14-
0.01043695
BL 01
5.97
$0.00
$0.05-
$0.05-
0.01043693
CN
$5.14-
$0.05$105.18
Property Total
$105.18
Owner Total
TOTALS
GROSS VALUE
ADJUSTMENT
NET PAYMENT
Current Payment
Year-to-Date
$106.94
$1.76-
$105.18
$686.87
$32.12-
$654.75
Bank of America 1455 Market St. 4th Fl
San Francisco CA 94103
32-1
1110 GL
C H E C K N O . C00500100
DATE 06/30/20XX
BHP BILLITON PETROLEUM (FAYETTEVILLE) LLC
1360 POST OAK BLVD.
HOUSTON, TEXAS 77056-3030
AMOUNT
*********$105.18
VOID IF NOT CASHED WITHIN
SIX MONTHS OF ISSUE
PAY *************105*DOLLARS AND*18*CENTS
Royalty Disbursement Account
NOT TRANSFERRABLE
PAY TO
THE
ORDER
OF
ROYALTY OWNER
123 MAIN STREET
CITY, AR 12345
sample
FACSIMILE SIGNATURE
FACSIMILE SIGNATURE