Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Petitions Roundup topic
No spam. Unsubscribe anytime.
Board approves series of Intervest/Innovest pooling, location exceptions and operator changes; Mountain V named operator for AXP assets
Summary
The board unanimously approved multiple petitions from Intervest/Innovest Operating LLC — including pooling orders, re‑poolings and location exceptions across several units — and approved Mountain V Oil & Gas’ request to be named operator following an asset purchase. The board recorded proposed depths, reserve estimates and cost figures for the proposed wells.
The Virginia Gas and Oil Board approved a slate of largely uncontested petitions from Intervest/Innovest Operating LLC and a separate operator designation for Mountain V Oil & Gas after company witnesses summarized unit acreage, lease status, proposed well depths and cost estimates.
Intervest witnesses (Larry Reeves and James "Ayers") presented multiple petitions for pooling, re‑pooling and well‑location exceptions across units in the Big A Mountain, Pound and North Colby fields. Example figures presented to the board included proposed well depths of 3,575 feet, 3,150 feet, 4,900 feet and 5,000 feet, estimated reserves reported in the transcript ranging from about 8.50 MMCF to 10.25 MMCF and estimated dry‑hole/completion costs ranging across filings (examples given in testimony included figures such as $262,037; $740,919; $270,722; $764,744; $437,868; $917,083; $529,739; $1,021,402). The company repeatedly stated it had provided certified notice, that it had a bond on file, and that Intervest was authorized to transact business in the Commonwealth.
Board members asked routine questions about notice to unknown owners, escrow track percentages for particular parcels, and whether some entries should remain listed on exhibit B3 pending resolution of conflicts. Intervest said staff would submit revised exhibits where necessary and would continue outreach to heirs and unknown owners. The board moved and unanimously approved the petitions recorded on the docket, including several pooling orders, location exceptions and applications to be named operator on the affected units.
Separately, Debbie Reed, land and legal manager for Mountain V Oil & Gas, asked the board to name Mountain V operator for wells acquired from AXP Energy. Reed confirmed publication of notice and that a bond is on file; the board approved the operator designation subject to standard conditions.
The approvals include routine directions for staff to file revised exhibits and updated orders where companies agreed to supplemental documentation. The board recorded votes with all present members voting in favor on the docket items.
