Aaron T. Bolling

The meeting addressed initial procedural matters, including confirming quorum and approving the meeting agenda, following technical difficulties with audio and video presentation setups. Key discussion points centered on administrative items such as passing a resolution to formally thank a departing authority member, Eileen Bull, and welcoming the appointed replacement, Chelsea Jenkins. The group reviewed the annual report, explaining that its official distribution was delayed pending presentation to the new administration and subsequent governmental approvals (secretariat and chief of staff). Further discussion involved the connection between the authority's work, the Governor's energy plan, and the focus on energy affordability. Technical aspects concerning the expected energy production impacts (a potential 50% reduction noted in PJM studies), associated tax credit implications, and the status of paused offshore wind projects were also reviewed.

This strategic plan outlines the Virginia Department of Energy's commitment to leading the Commonwealth towards a reliable and responsible energy future. The plan focuses on three primary goals: ensuring the safe and environmentally sound stewardship of Virginia's mineral and energy resources, fostering economic development through effective resource management, and empowering personnel to achieve their full potential. The overarching aim is to ensure quality customer service, promote ethical operations, and cultivate an inclusive work environment.

The meeting commenced with administrative procedures, including addressing remote attendance for Mr. Harris due to a temporary medical condition, which was approved. The board received no public comments. A significant discussion involved items that had been continued from previous meetings due to ongoing settlement negotiations. Specifically, the petitioner decided to withdraw the petition for unit E36 to avoid lengthy debate over a small tract of land, which was confirmed by the board. The proceedings then moved to formal hearings, starting with Item Number Four, a petition for pooling under Coal Methane Field 2, Unit E38, filed by Pocahontas Gas LLC. The hearing detailed the proposed pooling terms, including estimated costs ($499,933.70 for the 19 East panel), the wells involved (14 coal bed methane gas wells), and the proposed lease terms ($5 per acre per year for five years with a 12.5% royalty). The petitioner confirmed that Pocahontas Gas LLC controls 84.9% of the coal bed methane interests in the unit and that the proposed order is consistent with the Oakwood 2 rules. An objection was raised regarding a witness offering a legal conclusion, which the board voted to overrule.

The meeting began with a safety message pertaining to fall yard cleanup and the proper use of Personal Protective Equipment (PPE). Key agenda items included welcoming a new member, Craig Piery, CEO of the American Nuclear Society, and acknowledging the reappointment of Scott Coppel and Eric Carr. The primary discussion involved a presentation by Josh Parker from BWXT on advanced reactors, focusing on Project Pelle, a mobile micro-reactor designed to fit in a 20ft ISO container, which is currently under construction. The presentation also covered the BWXT Advanced Nuclear Reactor (BANNER) concept, a larger, fixed installation utilizing TRISO fuel, suitable for commercial, defense, and data center applications. A significant portion of the discussion addressed public concerns, primarily surrounding nuclear waste disposal and general understanding of advanced reactor technology.

The meeting commenced with introductions, including declarations of conflicts of interest by board members Mr. Owens and Mr. Mullins concerning items 5 through 10. The board reviewed and approved remote attendance resolutions for Mr. Mullins and Mr. Harris. A key agenda item involved the review and approval of the readoption of the board's electronic meeting policy, which was explained to be derived from FOYA codes and regulations. Following this, the board received no public comments. The escrow agent, First Bank and Trust Company, presented the quarterly year-end report for 2025, detailing fund balances, deposits, interest earned, fees deducted, and outstanding checks, noting that the closing balance as of December 31, 2025, was $4,611,361.32. The report also covered annual distributions, investment summaries, and outstanding checks. Finally, the board addressed motions from Diversified, including a motion to dismiss a Pocahontas Gas petition ruling for drilling unit E36, based on arguments concerning 100% ownership and pre-existing voluntary pooling agreements, leading to a discussion regarding Virginia Code section 45.2-1620 and an emerging argument under section 45.2-1622.