79th Texas Legislature, Regular Session, House Bill 380, Chapter 489 Page: 4 of 8
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H.B. No. 380
1 SECTION 4. Section 91.105, Natural Resources Code, is
2 amended to read as follows:
3 Sec. 91.105. BOND CONDITIONS. Each bond required by
4 Section 91.103 [of this code] shall be conditioned that the
5 operator will plug and abandon all wells and control, abate, and
6 clean up pollution associated with an operator's oil and gas
7 activities covered under the bond in accordance with the law of the
8 state and the permits, rules, and orders of the commission. This
9 section does not apply to a well-specific plugging insurance policy
10 described by Section 91.104(c).
11 SECTION 5. Sections 91.107, 91.108, and 91.1091, Natural
12 Resources Code, are amended to read as follows:
13 Sec. 91.107. NEW BOND, LETTER OF CREDIT, OR CASH DEPOSIT.
14 If an active or inactive well is transferred, sold, or assigned by
15 its operator, the commission shall require the party acquiring the
16 well to file a new bond, letter of credit, or cash deposit as
17 provided by Section 91.104(b), and the financial security of the
18 prior operator shall continue to be required and to remain in
19 effect, and the commission may not approve the transfer of
20 operatorship, until the new bond, letter of credit, or cash deposit
21 is provided or the commission determines that the bond, letter of
22 credit, or cash deposit previously submitted to the commission by
23 the person acquiring the well complies with this subchapter. A
24 transfer of a well from one entity to another entity under common
25 ownership is a transfer for purposes of this section. This section
26 does not apply to a well bore that is included in a well-specific
27 oluaain insurance policy described by Section 91 104(ci)l_ J J -~ . . . . . I . . .. . . . . . .. . .. . . . . . .. . I
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Texas. Legislature. House of Representatives. 79th Texas Legislature, Regular Session, House Bill 380, Chapter 489, legislative document, June 17, 2005; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth157058/m1/4/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.