Owners and division orders
Your owner records, kept up to date.
DOI (division of interest): the list of who owns what share of each well, and the decimal used to pay them. We keep it up to date, answer owner questions, and track owner money held in suspense.
20 clients and hundreds of wells operated
What you get
What lands on your desk.
- Owner questions answered Owner calls and emails about payments and address changes, answered under RedBird's name and logged.
- DOI changes made Transfers, address changes, and new owners updated in your DOI, from the papers you give us.
- A suspense list Every owner payment on hold, why it is on hold, and what will release it.
- Suspense released When the problem is fixed, the money goes out in the next owner payment run. You approve every payment before it goes out, unless your agreement says otherwise.
- Interest worked out Interest on payments held in suspense, worked out for you to review.
- DOI checked against payments Each month, what was paid checked against your DOI.
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 process your books in WolfePak. On QuickBooks or another system? We convert your books to WolfePak first.
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: Owner calls land on your desk.
With RedBird: Owners call or email RedBird. We answer under RedBird's name and log each one.
The old way: No one knows why money is on hold.
With RedBird: A suspense list: every payment on hold, why, and what will release it.
The old way: Shares change without papers.
With RedBird: We change a share only from papers you give us.
The terms, in plain English.
- DOI (division of interest)
- The list of every owner in a well and the share, or decimal, each one is paid.
- Division order
- The paper an owner signs to confirm their share before they are paid.
- Suspense
- Owner money held back for a reason, like a missing address, a title question, or an unsigned division order.
- Interest on suspense
- Interest that can be owed on owner payments held in suspense. We work out the amount for you to review.
- Owner inquiry
- A call or email from an owner about a payment, an address change, or a transfer of their share. We answer them under RedBird's name.
Questions.
What is a DOI?
DOI stands for division of interest. It is the list of every owner in a well and the share, or decimal, each one is paid.
Why is an owner in suspense?
Their money is on hold for a reason. Common ones are a missing address, a title question, or an unsigned division order. We show the reason and what will clear it.
Do you change owner shares on your own?
No. We change a share only from papers you give us, like a deed or a signed division order. If the papers do not agree, we flag it for you or your landman.
Who answers my owners?
We do, under RedBird's name. Owners call or email RedBird about payments, addresses, and transfers. We log each one and bring you anything that needs your decision.
Do you work out interest on suspense?
Yes. We work out interest on owner payments held in suspense, for you to review.
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