House Bill No. 1369 amends Section 318.1 of Title 52 of the Oklahoma Statutes, which pertains to the financial requirements for drilling and operating oil and gas wells. The bill phases out the use of Category A surety for new operators starting November 1, 2025, while allowing current operators in good standing to retain their Category A surety. It modifies the surety amounts required for Category B surety, establishing a tiered system based on the number of operating wells. The new amounts range from $25,000 for one to ten wells, up to $150,000 for operators with more than one hundred wells. Additionally, the bill removes the option for a Bank Joint Custody Receipt as a valid form of surety.

The legislation also stipulates that new operators, as well as those with outstanding fines or contempt citations, must post Category B surety. It allows the Oklahoma Corporation Commission to require additional surety if an operator has a history of noncompliance, with a maximum limit set at $150,000. The bill emphasizes the importance of financial responsibility in ensuring compliance with state laws regarding the plugging and abandonment of wells, closure of surface impoundments, and removal of equipment. The act is set to take effect on November 1, 2025.