Board approves two escrow disbursement petitions from Pocahontas Gas LLC; accounts to close after payments

The Virginia Gas and Oil Board on March 8 approved two petitions from Pocahontas Gas LLC to disburse funds held in escrow for coal‑bed methane units and to dismiss certain co‑owners from the related dockets.

Pocahontas land records analyst Kelly Berry testified for both petitions. For the first petition (docket BGOB13‑1217‑4029, Unit Q41), Berry said the unit is inactive and the disbursement would compensate owners who conveyed their interests before a cutoff date of Nov. 30, 2011. Berry provided certified‑mail proof of notice to claimants and said no conflicting claims were received within the 45‑day response period. Exhibits submitted include a pair of tables: Table 1 lists exact dollar disbursements to prior owners who conveyed before the cutoff date; Table 2 sets percentage disbursements for owners remaining after the Table 1 payments. Berry said the escrow account would close if the disbursement is approved. She also noted a reconciliation difference — the bank balance at First Bank & Trust was $726.06 less than the petitioner’s calculated balance, an unresolved discrepancy flagged in the exhibit reconciliation.

For the second petition (docket VPOD983‑02160329‑06 in testimony), Berry said the request is analogous to the prior one: funds are to be disbursed pursuant to the referenced statutory citation (quoted in testimony) and to royalty‑split agreements. Again, certified mail and publication proof were provided and no conflicting claims were filed. The petitioner’s reconciliation showed the First Bank & Trust balance was $161.06 less than the petitioner’s ledger estimate. Berry attached a royalty‑split agreement and submitted exhibits showing prior deposits, payments into escrow and a reconciliation chart.

Board members asked clarifying questions about which wells had contributed to the escrow accounts when the units were in production and were told those wells were part of earlier unit production and are no longer directly applicable in the closed unit context. After discussion, the board approved both disbursements by roll call.

Docket and procedural details - Unit Q41 docket: BGOB13‑1217‑4029 — disbursement and dismissal of co‑owners; account to close if disbursement approved; reconciliation difference reported $726.06 (petitioner balance higher than bank balance). - Second docket (petition referenced in testimony as VPOD983‑02160329‑06): similar disbursement structure; reconciliation difference reported $161.06 (petitioner balance higher than bank balance).

Board action and votes Both disbursement petitions were approved on roll‑call votes recorded in the meeting.

Next steps Division staff and the escrow agent will be instructed to make the Table 1 dollar disbursements first, then the Table 2 percentage disbursements per the petitions’ instructions; when the disbursements are completed the escrow accounts will be closed and the division will update records accordingly.