Oil & Gas Management

First Western Bank & Trust provides comprehensive mineral and land management, handling your mineral interests from start to finish. That spans full-service administration (revenue and expense tracking, net income distribution, and division order verification), proactive management (lease and right-of-way negotiation, revenue analysis, and coordination with industry partners), and comprehensive accounting (monthly statements and year-end tax reporting). The goal is to let you stay as involved as you want while experienced mineral personnel manage the details.

We serve all types of mineral owners, whether you’re organized as a business, a trust, or one or more individual interest holders. Our existing clients hold U.S. assets in North Dakota and Montana, as well as Canadian interests in Saskatchewan. Located in the oil-rich state of North Dakota, our team has the regional knowledge and experience to manage portfolios of nearly any size and complexity.

We’re well-versed in the unique needs of royalty interest (RI), working interest (WI), and overriding royalty interest (ORRI). Each type carries different rights, obligations, and accounting requirements, and our team manages the distinctions so your income and reporting stay accurate. If you’re unsure what type of interest you hold, we can help you sort that out as part of reviewing your assets.

We maintain strong relationships with conventional and Bakken/Three Forks shale producers throughout the Williston Basin, and we analyze monthly revenue detail to confirm that well payments are received. Producer 1099 income is balanced against our internal records to ensure accuracy, and our team performs updates and analysis daily to stay on top of a constantly changing industry. We also research and recover suspended funds when payments have been held up.

Yes. Inherited minerals often come with chain-of-title questions, and we provide guidance on resolving those issues. We can also coordinate with industry partners for legal counsel, asset valuation, and title research, and verify your division order interests so you’re receiving the income you’re owed. It’s a common situation, and our team can walk you through what you actually own and how to manage it.

We prepare statements of account, cash flow, and distribution reports monthly, and provide extensive year-end tax reporting, including K-1 and 1099 preparation. North Dakota income tax withholding is available for out-of-state beneficiaries, and in-house tax preparation is offered at competitive pricing. Coordinating the accounting and tax work in one place helps keep your reporting accurate and consistent.

A mineral trust can be a useful way to manage and eventually pass on mineral interests, especially when there are multiple owners or small individual interests, because it consolidates the interests under one trustee and keeps them out of probate. Oil and gas management services can be provided whether your interests are held individually, in a business, or in a trust. To learn more about the trust structure itself, see the mineral trust section on our Personal Trust & Investment Services page.

No. Products and services offered through the Trust Department are not FDIC insured, carry no bank guarantee, and may lose value. This differs from deposit products at First Western Bank, such as checking, savings, CDs, and IRAs, which are FDIC insured up to the maximum allowed by law. A member of our Oil & Gas Management team can explain how your interests and income are handled.

Reach out to our Oil & Gas Management team through the contact form on this page, contact us, or visit a branch near you. Whether you hold a single royalty interest or a complex multi-state portfolio, we’ll review your assets and recommend the right level of management for your needs.