Coalbed methane gas; Gas & Oil Board to order arbitration to resolve conflicting claim of ownership. (HB1344)
Introduced By
Del. Terry Kilgore (R-Gate City)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Coalbed methane gas; conflicting claims of ownership; arbitration. Requires that the Virginia Gas and Oil Board order arbitration to resolve conflicting claims of ownership over coalbed methane upon the request of the owner of the surface estate. The arbitrator shall be appointed by the circuit court and shall make his determination within six months. After receiving notice of the written determination, the Gas and Oil Board must disburse any proceeds held in escrow and owing to the owner of the coalbed methane interest. The costs of arbitration shall be shared equally among the parties claiming ownership of the tract in question, although such costs may be payable from the proceeds held in escrow for the subject tract prior to the determination reached by the arbitrator. View Full Text »
