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2006 SESSION

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SB 513 Coalbed methane well-pooling orders; interests in drilling units, conflicting claims.

Introduced by: Phillip P. Puckett | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Pooling of interests in drilling units, conflicting claims.  Requires the designated operator of a drilling operation operating under a pooling order to file with the Virginia Gas and Oil Board a petition for disbursement of escrowed funds upon the discovery of the identity and location of any unknown owner, provided that the owner's claim is not contested. The petition for disbursement shall be placed on the first available Board docket. Funds shall be disbursed within 30 days after the Board's decision and receipt by the Department of all documentation is required by the Board.


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