OK SB1976

Operators with existing Category A surety (based on $50,000 net worth financial statement) may voluntarily convert to Category B surety by written notice to the Corporation Commission, with the right to revert back within 3 years without penalty

After the 3-year reversion window expires, operators who elected Category B become permanently subject to Category B surety requirements

Category B surety amounts are phased in through 2028 based on number of wells: 1-10 wells ($25,000), 11-50 wells ($50,000 by 2028), 51-100 wells ($100,000 by 2028), and 100+ wells ($150,000 by 2028)

All Category B operators must post full surety amounts by the end of 2028, with interim amounts due on Form 1006B filing dates in 2026 and 2027

Declared an emergency measure, taking effect immediately upon passage and approval