Gas and Oil Escrow Account
The Virginia Gas and Oil Act gave the Virginia Gas and Oil Board (VGOB or Board) the authority to establish an escrow account into which proceeds from gas production are to be paid for properties where the gas ownership is unknown or disputed. The Escrow Agent provides the Board a monthly accounting of the activity in the escrow account. The escrow account contains subaccounts for each drilling unit, These subaccounts are listed in the monthly Escrow Agent Summaries provided below by the unit name and by the docket number.
You can use the Escrow Agent Summaries to see the value of the escrow account for individual units, but if you are interested in the value for a specific tract of land you can get an estimate from the Escrow Estimator. You will need to know the unit name or docket number as well as the number of acres of the tract contained within the unit. If you do not know if a certain tract has an escrow account established, you can use the map on the Escrow Estimator to find the tract location and see if it is in a unit that has an established escrow account.
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