Current Landowners

Properties Acquired

• What properties were acquired? All properties owned by XCL Resources, LLC and Altamont Energy Operating, LLC in Unita County, Utah and Duchesne County, Utah were acquired by Deep Well Oil & Gas Inc effective 10/1/24.
• Revenue Distribution. Deep Well Oil & Gas Inc will take over revenue distribution beginning March 2025. The letter stated Deep Well Oil & Gas Inc would begin distributing in January 2025, however XCL and Altamont will continue to distribute January and February 2025 revenues and SM will begin distributing with March 2025 revenue.
• Deep Well Oil & Gas Inc Transition Letter. If you received a transition letter from Deep Well Oil & Gas Inc regarding these properties but you are no longer an owner in the properties, you can disregard this letter.

Revenue Payments

• When will Deep Well Oil & Gas Inc take over revenue distribution? March 2025.
• How will I be paid? Deep Well Oil & Gas Inc will default to paying new owners by check but encourage direct deposit enrollment. These forms can be found here.

Direct Deposit

• How long will direct deposit enrollment take? Due to the acquisition transition direct deposit setup may take longer than 30 days, we appreciate your patience.
• Do I have to get a letter from the bank? The letter should be on your bank’s letterhead and include the ABA routing number, the account number and confirm the name on the bank account. Some banks have their own direct deposit form, we will accept this instead of a letter. You may also provide a copy of a bank statement if the statement shows the entire bank account. If it only shows a partial number, we cannot accept this.
• I was set up for direct deposit with your predecessor, why do I have to re-enroll? Deep Well Oil & Gas Inc is committed to accurately and securely paying each owner. For this reason, we do not pass an owner’s banking information from one operator to another as part of an acquisition.

Please complete, print and sign the change of address form and mail or fax it to Deep Well Oil & Gas Inc. See first question above for mailing or faxing instructions.

Occasionally postal delays may happen and  a check may take longer than normal to arrive. If your check is more than two weeks late, contact Deep Well Oil & Gas Inc as soon as possible.

Payments from Deep Well Oil & Gas Inc are usually mailed between the 22nd and 26th of the month.

Yes. If you would like to receive your royalty payments via direct deposit, please mail Deep Well Oil & Gas Inc a completed Direct Deposit Form with a letter from your financial institution dated within the last 6 months. The letter should include your bank’s ABA routing number along with your account number and indicate whether the account is checking or savings.

Changing market conditions may cause price fluctuations, while mechanical or operational problems or routine maintenance causing downtime may temporarily affect production. If you have reason to believe an error has occurred, contact Deep Well Oil & Gas Inc via email at ownerrelations@deepwelloilandgas.com 

Yes. Small payments are accumulated until the amount exceeds $25. However, in August checks are issued for any accumulation of dollars under $25.

Deep Well Oil & Gas Inc strives to disburse revenues in accordance with an owner’s lease agreement and state statutes. If an error or discrepancy is discovered, a correction will be made and adjustments may result. For instance, Deep Well Oil & Gas Inc may be given inaccurate production figures or pricing from a transporter. In that circumstance, an adjustment would be required.

If the deceased party’s estate is being probated, provide Deep Well Oil & Gas Inc with a court certified copy of the death certificate, letters testamentary naming the personal representative, and recorded final decree of distribution. If probate is completed in a state other than where the well is located, an exemplified copy will need to be filed in the state where the well is producing. If the estate is not probated, provide Deep Well Oil & Gas Inc with a copy of the will (if available), court certified death certificate and request information regarding an Affidavit of Heirship from Deep Well Oil & Gas Inc. Once Deep Well Oil & Gas Inc receives the appropriate documentation to credit heirs with the interest, Deep Well Oil & Gas Inc will update its records and send a Division Order to the heirs for review and execution.

Provide Deep Well Oil & Gas Inc with court certified copy of Marriage Certificate or Divorce Decree and state how you want your name changed. For example, change FROM Jane Doe TO Jane Smith. Please advise if you want your interest suspended or if Deep Well Oil & Gas Inc should continue payment as is until transaction is complete.

Prepare or have prepared a Memorandum of Trust and a conveyance document from the current owner of record into the Trust. Have the documents recorded in the county and state where the minerals reside. Provide Deep Well Oil & Gas Inc with a copy of the recorded documents along with the tax identification number of Trust, telephone number and address if applicable. Advise Deep Well Oil & Gas Inc if the owner wants the interest suspended or if Deep Well Oil & Gas Inc should continue payment as is until transaction is complete.

Provide that portion of the Trust document that determines who is successor Trustee as well as the duties and powers of the Trustee, circumstances leading to replacement of Trustee, and let us know if an address change is also needed.  If a change of address is required, provide the full street address, city, state and zip code.

Provide an assignment, deed or conveyance that has been recorded in the county and state where the minerals reside. Deep Well Oil & Gas Inc requires the social security number of the new payee, address and daytime telephone number. A new Division Order will be forwarded to the new owner for review and execution.

Provide a conveyance document establishing joint tenancy or tenants in common that has been recorded in the county and state where the minerals reside. Advise if you want the interest suspended or if Deep Well Oil & Gas Inc should continue payment as is until transaction is complete.

Deep Well Oil & Gas Inc updates statements quarterly.

Deep Well Oil & Gas Inc does not mail statements. However, you may download statements anytime from the secure owner website.