Oklahoma HB1369 modifies financial surety requirements for oil and gas operators, phasing out Category A surety and introducing tiered Category B.
Oklahoma HB1369 amends the financial surety requirements for oil and gas operators, phasing out Category A surety and introducing tiered Category B surety based on the number of wells operated. Operators with no outstanding fines or contempt citations may post Category A surety, while new operators and those with fines or contempt citations must post Category B surety. Category B surety amounts range from $25,000 for one to ten wells to $150,000 for more than 100 wells. Operators who have operated under Category B surety for three years without fines may revert to Category A surety.
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