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OK HB1707
Bill
Status
2/3/2025
Primary Sponsor
Rande Worthen
Click for details
AI Summary
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Expands the definition of "operator" for surety bond requirements to include all operators of active wells, not just those covered under the existing Section 318.2 definition
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Requires oil and gas operators doing business in Oklahoma to carry liability insurance with minimum coverage of $500,000
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Increases the surety bond amount from $25,000 to $500,000 for operators who choose to file a bond, letter of credit, cash, or certificate of deposit instead of liability insurance
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Security funds are held by the Secretary of State for the benefit of surface owners to cover location damages the operator cannot otherwise pay
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Effective date: November 1, 2025
Legislative Description
Oil and gas; operators; active wells; liability coverage; surety bond; amount; location damage; effective date.
Last Action
Referred to Energy
2/4/2025