This bill establishes a new section within the Oil and Gas Act that mandates owners, operators, or lessees with current or prior interests in oil or gas wells, facilities, pits, or immobile surface equipment to reimburse the Oil Conservation Division for costs associated with the plugging and abandonment of these sites. Specifically, the responsible parties must cover expenses related to the plugging and abandonment of wells, deconstruction and disposal of equipment, remediation of environmental contamination, and restoration of impacted areas.

Additionally, the bill allows for the contractual allocation of responsibility among the owners, operators, and lessees, enabling them to determine how costs are shared. However, any such agreements will not obligate the division to pursue recovery from specific parties or in a particular order. The provisions of this act will take effect for applicable parties starting July 1, 2025.