Pursuant to the recent ACH transition to Wells Fargo, Sabine Oil & Gas has revised their company policy regarding the frequency of how payments are remitted. Effective November 17th, 2017, owners who have enrolled in Wells Fargo ACH will now be placed in “Always Pay” status (royalties will be remitted each month regardless of the dollar amount). Again, ONLY owners who have enrolled to receive ACH payments via Wells Fargo will be eligible for “Always Pay” status. Consequently, owners who do not sign up for Wells Fargo ACH will receive a check payment either once $50 has accrued in their account or once a year as part of the minimum suspense release. If you are already a Wells Fargo ACH user, there is no further action needed as you will be receiving payments every month effective November 17, 2017 assuming there is production.
To enroll in the Wells Fargo ACH service, please review the instructions and log on to the website (both provided below) to create an account with the Wells Fargo Commercial Electronic Office (CEO) portal. Be prepared to provide the following information:
Website Address: Click here
Instructions for ACH setup: Click Here
Originators Identifier Number: Please refer to your most recent check detail
Trading Partner ID: This is your Owner number with Sabine Oil & Gas (can be found on your most recent check detail) **please note, if you have multiple owner numbers, you will need to create an ACH account for each number – or – send in a written request to combine your owner numbers to one account**
Confirmation Code: Please refer to your most recent check detail
If you have any questions or issues regarding your ACH setup, you may contact Wells Fargo at 1-800-851-8311 or contact our Owner Relations at 832-242-9575.
Please note at the end of the enrollment process you will receive an error message stating your “Trading partner is inactive…”, this error message is due to a manual verification process between Wells Fargo and Sabine Oil & Gas. Therefore, when you reach this page, you have completed the enrollment process and should grant 48 hours for the manual verification to commence.