Oklahoma SB1976 amends oil and gas regulations, allowing operators to voluntarily switch from Category A to Category B surety bonds.

Oklahoma SB1976 modifies the state's oil and gas regulations by allowing operators to voluntarily switch from Category A to Category B surety bonds. Operators can make this switch by submitting written notice to the Corporation Commission. The bill also mandates that operators post surety bonds based on the number of wells they operate, with a phase-in schedule for Category B surety amounts. Additionally, it declares an emergency, making the act effective immediately upon passage and approval.

Oklahoma SB1976 amends oil and gas regulations, allowing operators to voluntarily switch from Category A to Category B surety bonds.

Oklahoma SB1976 modifies the state's oil and gas regulations by allowing operators to voluntarily switch from Category A to Category B surety bonds. Operators can make this switch by submitting written notice to the Corporation Commission. The bill also mandates that operators post surety bonds based on the number of wells they operate, with a phase-in schedule for Category B surety amounts. Additionally, it declares an emergency, making the act effective immediately upon passage and approval.