Mineral Interest Ownership

Payment Method 
Valero makes mineral interest payments by electronic funds transfer (direct deposit). To receive your payment, please complete the following steps: 

• Step 1: Download and fill out Valero’s Direct Deposit Agreement. 
• Step 2: Mail the completed and signed form to:

               Valero Marketing and Supply Company 
               Attn: Lease Crude Accounting – Division Order Department 
               P.O. Box 696000
               San Antonio, TX 78269-6000 

Payment Timing 
Payments are made on the 20th day of each month, except when it falls on a weekend or bank holiday as explained below. 

Minimum Payment Amount 
Valero observes a minimum payment threshold of $25. Therefore, you will only receive your payment once your payment amount equals or exceeds $25. All payment amounts, regardless of amount, are disbursed on an annual basis in December. 

Payment Detail 
View your payment history and detailed information online here.

Minimum Payment Amount 
View operator lease statements online here.

Any change in ownership should be promptly communicated to Valero along with the required supporting documentation. 

Please see our contact information for where to mail all required documentation. 

The links below contain a listing of supporting documentation you will be required to provide to execute any changes.

W-8BEN

Form W-9

 

Please return one executed original Division Order form in accordance with the instructions set forth below retaining the owner copy for your records. 



Do not alter this document unless the proper documentation is provided supporting the alterations. The documentation must be a filed record in the county or parish where the well is located. 



Please fill out a W-9 Form with the information you use to file your taxes and return it along with the executed Division Order. The tax identification number must match what was provided on the Division Order. 



Without a Form W-9 or Form W-8, Valero is required to withhold a percentage of your future royalty payments based on IRS withholding rates. All backup withholding is reported on your Form 1099 at year-end, and is considered a payment to the IRS on your behalf. Valero does not issue refunds for backup withholding. Mineral interest owners are able to report the withholding on their income tax returns at the end of the year.



Valero’s preferred payment method is electronic funds transfer (EFT). Please provide Valero with a completed Direct Deposit Agreement Form if we do not have one on file for you. 



SIGNATURE(S): 

• Sign your name exactly as shown on the Division Order. If your signature is different, legal documentation supporting the name change is required. If this interest is owned jointly by two or more individuals, all signatures are required unless documentation is provided verifying authorization of one individual to sign on behalf of all parties. 
• Signatures by agents, attorneys-in-fact, guardians or trustees must be verified by attaching a copy of the recorded legal documentation as evidence of the rights vested in the signatory party. 
• In the event of multiple trustees and/or executors, all signatures are required unless documentation is provided verifying authorization of one individual to sign on behalf of all parties. 
•  Signatures for companies or corporations must be executed by an authorized officer with the name and title of the signatory party printed beneath the signature. 
• If executing on behalf of a partnership, or association, indicate your official capacity and provide documentation of your authority to execute on behalf of such organization.   

SOCIAL SECURITY OR TAXPAYER IDENTIFICATION NUMBER: 

• To avoid a withholding tax penalty, as mandated by the Internal Revenue Code, a taxpayer identification number or Social Security number is required. 

ADDRESS: 

• Fill in the address in the space provided to ensure prompt receipt of revenue payment.

WITNESS SIGNATURES: 

• Signature of two witnesses as evidence of your signature should be provided. 

No, you are not selling your interest by executing a Division Order. A Division Order is a document that lists the property, the operator, the legal description, the owner’s remittance address and the owner’s decimal interest and interest type. The owner is asked to verify, to sign and to return the Division Order. Valero uses this information to remit proceeds to the interest owner.

Valero assigns all interest owners a number that is also referred to as vendor number. This owner number helps Valero identify you from other interest owners. When communicating with Valero, please provide your owner number for quicker assistance.

Valero does not accept address changes by telephone. All changes must be submitted in writing with a signature. You may use our Owner Address Change Request Form,  but you are not required to do so. If you use your own form, please include the account name, the owner number, the old address, the new address and the Social Security or the tax identification number on the account. Don’t forget to sign and to date the request. If this change is being submitted on behalf of an owner, please provide a copy of your authorization to act for that owner. 

Please see our contact information for where to mail or fax your request.

 

Valero makes mineral interest payments on new accounts by electronic funds transfer. Payment detail will be provided either by mail, by email or by fax. 

Please mail the completed Direct Deposit Agreement form for processing to the address in our contact information.

 

Without a Form W-9 or Form W-8, Valero is required to withhold a percentage of your future royalty payments based on IRS withholding rates. All backup withholding is reported on your Form 1099 at year-end, and is considered a payment to the IRS on your behalf. Valero does not issue refunds for backup withholding. Mineral interest owners are able to report the withholding on their income tax returns at the end of the year.

Payments are made on the 20th day of each month, unless that day is a weekend or a bank holiday. The table below identifies exceptions. 

Electronic funds transfers are usually received at your bank on the same day the transfer is initiated. However, it may take one to two business days for the funds to post to your account. 

Payments are made on the 20th day of each month, except when it falls on a weekend or bank holiday as explained below.

For name changes due to marriage, please send Valero a copy of your marriage certificate. If you had a name change due to a divorce, please provide Valero with a copy of the final divorce decree, including any settlement agreement and any other pertinent documents. 

Mail documents to the address in our contact information.

Valero makes mineral interest payments once the amount in your account reaches $25. All revenue, regardless of the amount, is disbursed in December. If you receive your payment by electronic funds transfers, , please allow two business days for your funds to post to your account. If you still receive payment by check, please allow 10 business days for your check to arrive in the mail. If you fail to receive your payment, please call 1(800) 475-4171 and press 1. 

You can also mail an inquiry to the address in our contact information.

 

If your check is still missing after 10 days or otherwise has become lost, stolen or stale-dated, please call 1 (800) 475-4171 and press 1. 

You can also mail an inquiry to the address in our contact information.

Interest can be transferred by a deed or similar instrument. The conveyance must be recorded in the county where the property is located. 

Mail copies of the recorded document to the address in our contact information. 

 

Provide Valero with a copy of the Certificate of Name Change valid in the state where the mineral interest is located, and verify the tax ID of the newly named entity. 

Mail documents to the address in our contact information.

Please provide Valero with a copy of the Certificate of Merger valid in the state where the interest is located, and verify the tax ID of the surviving entity. 

Mail documents to the address in our contact information.

I want to transfer my interest to a trust or to a partnership. What action is required?



Please provide Valero with (1) a copy of the trust or the partnership agreement; (2) a copy of the recorded document that conveys the mineral interest to the trust or to the partnership; and (3) the tax ID of the trust or the partnership. 

Mail the documents to the address in our contact information.

When a trust or a partnership has been dissolved, Valero will need a copy of the document terminating the trust or partnership. In addition, please send Valero a copy of the recorded conveyances, showing to whom the mineral interests now belong. 

Mail documents to the address in our contact information.

Provide Valero with a death certificate for the former trustee or a copy of the document whereby he or she resigns as trustee and also a copy of the document wherein the successor trustee accepts his or her appointment. 

Mail documents to the address in our contact information. 

Provide Valero with a copy of your Power of Attorney. 

Mail documents to the address in our contact information.

Provide Valero with a copy of the Letters of Guardianship issued by the court. 

Mail the documents to the address in our contact information. 

Provide Valero with a copy of the death certificate of the joint tenant. 

Mail the document to the address in our contact information.

Provide Valero with a copy of the death certificate of the owner of the life estate and the names, addresses and Social Security numbers of the remaining individuals. Valero may also ask for a copy of the document that originally created the life estate. 

Mail documents to the address in our contact information. 

The documents that will need to be sent to Valero depend on whether the owner left a will that was probated and are shown below. When there is no will or the will has not been probated, title to real property passes according to the intestacy laws of the state where the property is located, and not the state where the deceased lived. 

Owner Dies Testate (with a will)

• Death certificate
• Application to probate the will
• Copy of Will & Order Admitting Will to Probate in the County/Parish where the property is located; or provide documentation of ancillary probate proceedings in the state where property is located
• Letters Testamentary
• Signed oath of the independent executor
• Evidence debts and taxes have been paid
• Final Decree of Distribution or Judgment of Possession
•  Recorded conveyance to heirs of other parties (if appropriate)

Owner Dies Intestate (without a will or will not probated)

Death certificate

• Letters of administration
• Recorded Affidavit of Heirship. Affidavit of Heirship should be completed by someone (other than an heir) who was well acquainted with the decedent. Signature of affiants must be notarized. Affidavit of Heirship should be recorded in the County/Parish where the property is located
• Name, address and Social Security/tax ID number for each heir

Mail documents to the address in our contact information.

 

Chapter 11 and 13

• Plan of reorganization
• Order confirming plan of reorganization

Chapter 7

• Appropriate recorded conveyance
• Order naming trustee of bankruptcy estate

Mail documents to the address in our contact information. 

 

Each state makes an effort to locate rightful owners of production revenues through publication, holding the funds until the owner is found. To locate and collect unclaimed funds, please visit the National Association of Unclaimed Property Administrators (“NAUPA”) website. Each state also maintains its own website relating to unclaimed property.

Tax forms are issued annually based on federal requirements. Form 1099-Misc, which reports mineral interest payments, is typically mailed out by Jan. 31 for payments made during the preceding year. Form 1042-S, which reports U.S.-source income paid to foreign persons, is typically mailed before March 15 for payments made during the preceding year.

Valero does not provide appraisals. Valero suggests you contact a mineral interest broker or local banker in the county where property is located.