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 gas wells, allowing them to be 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 includes definitions for terms such as "idle well," "non-producing well," "shut-in," and "temporarily abandoned," which clarify the status of wells under the new regulations. The Corporation Commission is tasked with promulgating rules to implement these provisions and establish enforcement measures. The act is set to take effect on November 1, 2025.