OK HB1372

Production from wells on the Corporation Commission's orphaned well list receives a 50% reduction from the gross production tax (normally 5%) for 36 months, after which the full rate applies

Producers must file a $25,000 surety bond, letter of credit, cash, or certificate of deposit per well with the Secretary of State before beginning production on orphaned wells

The surety is held for the benefit of the Corporation Commission Plugging Fund and is forfeited if the producer abandons the well and it returns to the orphaned well list

The 36-month surety requirement is conditioned upon continued recovery operations during that period

Effective date: July 1, 2025, with emergency clause for immediate effect upon passage