With roots that go back to Spindletop, Houston Trust Company has extensive expertise in managing oil and gas interests. We serve clients with oil and gas interests through our relationship with Travis Property Management, a Houston-based, independent manager of fee minerals, royalty, overriding royalty and working interests. As part of our oil and gas accounting and land management services, we will arrange to:
- Analyze accuracy of royalty and working interest payments.
- Receive, deposit and record the revenue detail and joint interest billing detail from purchasers and operators.
- Reconcile operating statements and 1099 reports.
- Assist with well schedules and other required data for insurance providers.
- Prepare annual reports for tax preparation purposes.
- Track revenue by purchaser.
- Verify and pay ad valorem taxes to tax authorities.
Houston Trust Company records receipts and disbursements of oil and gas royalty income to client accounts and provides financial reports to owners and beneficiaries. We also arrange for payment of taxes and filing of tax returns.