CA AB1167

Requires persons acquiring oil and gas wells or production facilities to file individual or blanket indemnity bonds in amounts determined by the supervisor to cover full costs of plugging, abandonment, decommissioning, and site restoration before completing the acquisition.

Exempts wells with average daily production exceeding 15 barrels of oil or 60,000 cubic feet of natural gas during the preceding 12 months, and natural gas storage wells, from the new bonding requirements.

Mandates that supervisors determine bond amounts using reasonable methods including cost estimation criteria, contractor estimates, or other approved approaches, and post all bond determinations and calculations on the Department of Conservation website.

Allows operators to substitute bonds with alternative financial assurance including irrevocable letters of credit, fully funded trust funds, or deposits, but excludes self-insurance and corporate guarantees.

Requires supervisors to maintain and publish records of all recognized well transfers on the Geologic Energy Management Division's website, including all materials provided by new operators.