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Image of the Virginia state seal

Commonwealth of Virginia
Office of the Attorney General

Mark Herring
Attorney General

900 East Main Street
Richmond, Virginia 23219



Contact: Emily Bolton
Office: (804)786-0147 
Cell: (804)839-9024 
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

SOUTHWEST VIRGINIA LANDOWNERS TO RECEIVE MILLIONS IN ROYALTY PAYMENTS

~ HB2058 will release the majority of $29 million in coalbed methane royalties currently sitting in escrow ~

 

BRISTOL(April 1, 2015)--Because of a new state law, millions of dollars in royalties from coalbed methane extraction will be going to Southwest Virginia landowners. HB2058, sponsored by Del. Terry Kilgore and signed by Governor Terry McAuliffe, represents the culmination of unprecedented cooperation and complex negotiations between landowners, energy companies, the Department of Mines, Minerals, and Energy, the Virginia Oil and Gas Board, legislators including Del. Kilgore, and the Office of Attorney General Mark Herring. The bill will result in the majority of $29 million currently held in escrow being paid out to landowners by the end of the year.

"I'm very pleased that we were able to help strike a deal that will return millions of dollars in royalties to the people of Southwest Virginia. This is their money, and they're going to get it," said Attorney General Herring. "This is a testament to the landowners, legislators, energy companies, and state officials who have remained committed to finding a solution. I'm really glad we were able to help fix a problem that just a year ago seemed like it might be unfixable."

"This deal has been a long time coming, and it's great to finally have this money going to its rightful owners," said Del. Terry Kilgore. "I appreciate the involvement of the Attorney General and his team, as well as the many landowners, state officials, and others who helped us finally solve this puzzle."

Since 1990, royalties from coalbed methane have been sitting in bank accounts in legal limbo, instead of the pockets of the landowners who are entitled to them. Attorney General Herring and his team were able to help lead negotiations between all stakeholders that resulted in HB2058, which will disburse millions of dollars sitting in escrow and establish a system to ensure that, going forward, landowners get paid in a timely manner. The bill also respects the rights of landowners who have either made other arrangements with an energy company or are in litigation.

 

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