The bill establishes new bonding requirements for oil and gas operators in Wyoming, mandating the Oil and Gas Conservation Commission to create rules that provide additional bonding options beyond those currently specified. It introduces a bonding pool that operators can voluntarily join, contingent upon their good standing with the commission. The commission is also authorized to impose assessments on operators based on the market value of oil and gas produced, with specific provisions for funding the bonding pool and ensuring financial assurance for the plugging of dry or abandoned wells. Reports on the program's status and financials will be required annually.

Additionally, the bill amends existing laws to clarify the use of funds collected from operators, ensuring they are allocated for expenses related to well plugging, reclamation, and bond forfeiture. It specifies that the bonding requirements are supplementary to existing obligations and allows for the transfer of financial assurances between operators under certain conditions. The act is set to take effect on July 1, 2025, with immediate provisions for rule promulgation.

Statutes affected:
25LSO-0092 v0.8: 30-5-116, 30-5-404, 35-11-504