HomeMy WebLinkAbout20230752.tiffChord Energy
February 28, 2023
Dear Valued Owner:
RECEIVED
MAR 06 2023
COMMISSIONERS
1001 Fannin Street, Suite 1500
Houston, TX 77002
O 281.404.9680
F 281.404.9604
You are receiving this letter because you receive remittance statements from Whiting Oil and Gas Corporation
("Whiting") and/or Oasis Petroleum North America LLC ("Oasis"), both of which, following last year's merger,
are now subsidiaries of Chord Energy Corporation ("Chord").
This letter is to update you on our continued integration efforts and to inform you of some changes you will
see in your upcoming remittance statement. The goal of these changes is to use one format for both
company's remittance statements going forward. On the following pages you will see a discussion of the
changes you will see on remittance statements you receive beginning in February 2023.
Should you have any questions or concerns, please contact our Owner Relations team at the phone number
or email address listed below:
Phone: 855-209-8370
Email: Ownerinquirv(ichordenergy.corn
COMN1Vf1 iCG1 Q15
O3/2./23
2023-0752
All Owners
All owners will see a reference to Chord Energy and affiliates at the top of their remittance statement, rather
than express references to Oasis or Whiting. The Owner Relations contact information has also been
updated to ensure that you have the most up-to-date information on how to get in touch with our Owner
Relations team.
As a result of the merger, all volumes from both legacy companies can now be marketed to take advantage of
the benefits that greater volumes provide. Neither company charges any fees for these marketing efforts,
which means that the prices, costs and deducts you see on your remittance statements will be the same ones
Oasis and Whiting receive and pay.
Whiting Owners
Some of the formatting and codes that you have seen previously on your Whiting remittance statement will
change. We have included an example of these changes attached to this letter. As you review the example,
please keep in mind that different units of volume measurement are used for the two gas streams (Mcf for Gas
and Gallons for Plant Products). While these formatting and code changes may reflect the underlying
information in a different way or using different units of measurement than in the past, they do not
substantively change the underlying information.
Going forward, we will handle direct deposits through a third party vendor, FIS. Due to this change, all
Whiting owners will receive physical checks beginning on February 28, 2023. If you previously received
payments through direct deposit and wish to continue doing so, please submit your information to FIS after
you receive your first check. If you have any issues with FIS, you can reach them at (877) 330-4950. If you
have not previously used direct deposit, we encourage you to enroll in this feature. Direct deposit will allow
you to receive payments in a timelier manner than mailed physical checks and removes the risk of delivery
delays or lost checks. Each revenue check will include instructions on how to sign up for direct deposit at the
bottom of the check detail. Please note that Chord Energy and its affiliates do not maintain or manage any
direct deposit information intemally.
Current Whiting Legend
Chord Legend
PC (PRODUCT CODES).
OIL - BBL 1 GAS - MCF
........................_... INTEREST TYPE CODES ............_...........,....
Rt- ROYALTY INTEREST S WI - WORKING INTEREST 41N0 - INDIAN ROYALTY INTEREST 4FED - FEDERAL ROYALTY INTEREST l STATE- STATE ROYALTY INTEREST
............................ TRANSACTION CODES
07 - CURRENT MONTH REVENUE 1. D2 - OWNERSHIP CHANGE t 05 - TAX RATE CHANGE
............................ DED.TtON CODES .
PROC1- PROCESSING - TREATING l TRN- TRANSPORTATION 6TRN1- TRANSPORTATION -GATHER GATHER.,
TRN2 -TRANSPORTATION -GENERAL 1 CMG - COMPRESSION. GATHERING, S TREAT? PROC2 - RCCESSING - GENERAi.
ND_S - SEVERANCE TAXE.ND b ND MET - ND MINERAL EXTRACTION TAX 4 ND_METS - ND MINERAL EXTRACTION TAX SPEC
........................_._. DEDUCTION EXPLANATIONS ......_........_..._......_..
TRANSPORTATION - GATHERING: TM Category typically bdudes tees and costa to gather cope oil nom wells or verbal Sant 6a Wes to a sails ND, Our.. or malnane transporodon system.
TRANSPORTATION OIL STORAGE: Tits category typical" ticWdes Tees and costs b store cope ou plc; to Luther transport to a safes location.
TRANSPORTATION - GENERAL: Th. categcry typically Includes fees and coats to transport crude t. !rom a tr..he or main. to another buMHne or mainline or a market destination.
PRO C:33rNG - TREATTP. Teas ...gory twin, Inctudea tees and casts Ds treat cope DP Dt natural gas. Import.. siren as Ftw , ix COT core era.
PROCESSING - GENERAL: Thus category typMilly Includes fees and cogs 67 process crude dl or natural gas Ina 1.01.16 product&
COMPRESSION - GENERAL: This category typically Ind... tees and casts to compress natural gas In connection wtm moving k In ppellne&
ADMIN - 1. PARTY BROKER FEES: This category typically mdudes tees and oasts rotated W into. t., broilers that help obtaal market or better 'pr , tot the sale of of and moral gas.
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