California AB2461 amends bonding requirements for oil and gas wells and production facilities.

California AB2461 modifies the bonding requirements for oil and gas wells and production facilities. It mandates that individuals or entities acquiring the right to operate or control a well or production facility must submit a request to the supervisor for a bond determination before completing the acquisition. The supervisor determines the bond amount based on the full costs of plugging and abandonment, decommissioning, and site restoration. The new operator or person must provide necessary documents to identify the operator or person acquiring control of the well or production facility.

California AB2461 amends bonding requirements for oil and gas wells and production facilities.

California AB2461 modifies the bonding requirements for oil and gas wells and production facilities. It mandates that individuals or entities acquiring the right to operate or control a well or production facility must submit a request to the supervisor for a bond determination before completing the acquisition. The supervisor determines the bond amount based on the full costs of plugging and abandonment, decommissioning, and site restoration. The new operator or person must provide necessary documents to identify the operator or person acquiring control of the well or production facility.