OK SB269

Consolidates regulatory authority over all Class VI CO2 injection wells and carbon sequestration facilities under the Oklahoma Corporation Commission, removing the Department of Environmental Quality's previously shared jurisdiction over certain reservoir types

Establishes a process for creating CO2 storage units through the Corporation Commission, requiring applicants to own at least 63% of pore space rights in the proposed unit area, with provisions for both cost-bearing owners and fair market value compensation for non-participating owners

Creates a certificate of completion process allowing operators to transfer ownership of sequestration projects to the state after 50 years post-injection cessation, releasing operators from future liability if specific safety and compliance criteria are met

Establishes the Class VI Carbon Sequestration Storage Facility Revolving Fund, funded by per-ton injection fees, capped at $5 million per facility and $10 million per operator, to cover long-term monitoring and remediation costs after state assumption of responsibility

Requires dual newspaper publication notice (30 and 15 days prior to hearing) plus mailed notice to surface owners, mineral owners, working interest holders, royalty owners, well operators, and gas storage operators before permits can be issued