Senate Bill No. 132 amends Section 53 of Title 17 of the Oklahoma Statutes, focusing on the regulation of idle oil and gas wells. The bill authorizes the Corporation Commission to create rules for the plugging of idle wells, which are defined as non-producing wells that have not had commercial production for the past seven years. The bill establishes a maximum time period for plugging these idle wells, allowing them to remain shut-in for up to seven years. Additionally, operators of idle gas wells that were shut-in prior to the bill's effective date will have ten years to either plug or produce from these wells, with specific reduction targets set for 2028, 2031, and 2035.

The bill also introduces new definitions for terms related to well status, such as "idle well," "non-producing well," "shut-in," and "temporarily abandoned." It emphasizes the need for the Corporation Commission to promulgate rules to enforce these provisions effectively. The act is set to take effect on November 1, 2025.