What does it mean when an Oil & Gas Company sends you a 1099?

Question

We have minerals leased to an oil and gas company for the last couple of years. They just sent us a 1099, does this mean that they are about to drill?

Answer 1

You are someone that collects a paycheck from them - so they 1099 you. If they are a huge company, they may send one to all of their "employees" whether they have collected any payment or not.