Pennsylvania HB364 amends bonding requirements for oil and gas wells, increasing bond amounts for new wells and setting a cap on blanket bonds.

Pennsylvania HB364 amends Title 58 of the Pennsylvania Consolidated Statutes to revise bonding requirements for oil and gas wells. The bill increases the bond amount for each new well that is not an unconventional well by $1,000 after six months from the effective date. It also sets a cap of $100,000 on the total blanket bond for an operator's wells that are not unconventional wells. The bill further stipulates that the bond amount for wells other than unconventional wells is $2,500 per well.

Pennsylvania HB364 amends bonding requirements for oil and gas wells, increasing bond amounts for new wells and setting a cap on blanket bonds.

Pennsylvania HB364 amends Title 58 of the Pennsylvania Consolidated Statutes to revise bonding requirements for oil and gas wells. The bill increases the bond amount for each new well that is not an unconventional well by $1,000 after six months from the effective date. It also sets a cap of $100,000 on the total blanket bond for an operator's wells that are not unconventional wells. The bill further stipulates that the bond amount for wells other than unconventional wells is $2,500 per well.