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Board approves Keyrock Energy amendment to shut‑in payment distribution for coal‑bed methane unit
Summary
The board approved Keyrock Energy LLC’s petition to amend a prior pooling/pulling order (docket BGOB24-0220-4280) to change monthly shut‑in payments from a flat per-owner amount to a pro‑rata distribution based on ownership percentages; the vote was 4–1.
The Virginia Gas and Oil Board on March 8 approved Keyrock Energy LLC’s petition to modify a prior pooling/pulling order for a coal‑bed methane unit, changing how monthly shut‑in payments are calculated and distributed.
Keyrock geologist Morgan Payne told the board the unit at issue covers roughly 815.81 acres and that Keyrock holds leases covering about 77 percent of the acreage. Payne said the company seeks an amendment to distribute shut‑in payments on a pro‑rata basis tied to ownership percentages rather than a flat per‑owner monthly amount that had been used under the previous order.
Payne described the company’s business model for coal‑bed methane…
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