At Broadway Bank, our Oil, Gas and Mineral Group is committed to providing a high level of professional oil and gas asset management and dedicated customer service in order to meet the needs and expectations of each individual client. All decisions are made by our local management team and are based on thorough research and analysis utilizing a broad array of industry and proprietary data sources. This approach provides flexibility and effectiveness in managing client assets. Decisions are made with a complete understanding of the client’s goals, risk tolerance and changing circumstances—developing creative solutions tailored to the client’s unique situation. We believe it is paramount to invest heavily in time, intellect, education, and technology in order to ensure that we can offer you superior mineral management expertise to navigate the constantly changing oil and gas industry environment and to ensure that our results will be consistent and competitive. The true measure of a successful oil and gas asset management experience will be the strength of our relationship over many years and how well we meet or exceed your personal needs and expectations. Open client communication is a key component to this success.
Management oversight includes:
- Maintain current inventory and status of each mineral/royalty/working interest and its ownership
- Negotiate leases, farm-outs, well participation, production sharing and well allocation agreements, and other agreements that provide for the exploration and development of minerals
- Analyze and verify Oil and Gas Lease compliance
- A three-fold service of receiving, processing, and monitoring revenue checks and working interest expenses
- Confirm division orders and when necessary, perform title curative
- Evaluate, pay, and when warranted, protest ad valorem taxes
- Perform annual due diligence and audit of all oil and gas properties to guarantee compliance with leases and contracts - this includes analysis of production volumes and commodity pricing
- Market unleased mineral properties
- Research and recover escheated funds, as well as funds suspended by purchasers
- Manage the conveyance of mineral ownership to ensure proper transfer of title and associated revenue
- If desired, negotiate purchase or sale of mineral interests
- Reconciliation of 1099 Miscellaneous Income and preliminary tax prep
The only constant in this industry is change. We strive to stay ahead of the curve.