Signed by Governor Kevin Stitt

Vote Smart's Synopsis:

Vote to pass a bill that modifies amounts paid to the Oklahoma Corporation Commission for oil and gas wells by establishing a tier system based on the number of wells owned by an operator in Oklahoma, effective November 1, 2025.

Highlights:

• Amends provisions relating to surety amounts paid based on number of operating wells in Oklahoma (Sec. 1). 

• Specifies that Category A surety will no longer be accepted as a valid form of surety for new operators beginning November 1, 2025 (Sec. 1). 

• Specifies that Category B surety shall be based on the number of wells that the individual operates as follows (Sec. 1):

• $25,000 for between 1 and 10 wells;

• $50,000 for between 11 and 50 wells;

• $100,000 for between 51 and 100 wells; and

• $150,000 for more than 100 wells.

• Authorizes the Commission to determine a higher amount of Category B surety based on past performance of the operator as long as the amount does not exceed $150,000 (Sec. 1). 

• Prohibits any individual from drilling or operating any oil or gas well without evidence of financial ability under the provisions of this bill (Sec. 1). 

• Specifies that the provisions of this bill shall take effect November 1, 2025 (Sec. 2). 

Full Bill Text