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Virginia Gas and Oil Board continues KeyRock Energy petition to modify M‑26‑1 shut‑in payments
Summary
KeyRock Energy asked the board to change the cooling/pooling order M‑26‑1 to distribute shut‑in payments pro rata and cap total monthly shut‑in payments; the board continued the petition to allow KeyRock to update notices and application language.
The Virginia Gas and Oil Board continued a petition from KeyRock Energy LLC seeking a modification to the cooling/pooling order M‑26‑1 (docket 24‑0220‑4280‑01) that would change paragraph 9.2/9.6 shut‑in payment language from $1,000 per mineral interest to a pro rata distribution capped at $1,000 total per month for the unit.
KeyRock representatives described the unit (approximately 816 acres, of which KeyRock controls about 79.77%) and said the amendment is intended to align shut‑in payments with the company's annual revenue model for landfill/coal‑mine methane carbon‑credit sales. KeyRock's…
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