House Bill No. 1369 amends Section 318.1 of Title 52 of the Oklahoma Statutes, which pertains to the financial requirements for individuals or entities drilling or operating oil and gas wells in the state. 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. Instead, new operators will be required to provide Category B surety, which is tiered based on the number of wells operated. The amounts for Category B surety are set at $25,000 for one to ten wells, $50,000 for eleven to fifty wells, $100,000 for fifty-one to one hundred wells, and $150,000 for more than one hundred wells.

Additionally, the bill modifies the conditions under which operators can provide surety and establishes that operators with outstanding fines or contempt citations must post Category B surety. It also allows the Commission to require higher amounts of surety based on the operator's past performance and compliance history, with a maximum limit of $150,000. The bill includes provisions for the forfeiture of surety in cases of noncompliance and outlines the responsibilities of operators regarding the plugging and abandonment of wells and the closure of surface impoundments. The act is set to take effect on November 1, 2025.