Oklahoma SB1419 modifies bond requirements for oil and gas operators and mandates notice to surface owners before certain activities.
Oklahoma SB1419 amends oil and gas operations regulations by modifying bond requirements for operators and requiring them to provide notice to surface owners before certain activities. Operators must file a bond, letter of credit, cash, or certificate of deposit with the Secretary of State. The bill also mandates operators to negotiate with surface owners for damages and reclamation obligations before drilling. If an agreement is not reached, operators must petition the court for appraisers to determine compensation.
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