This bill establishes new bonding requirements for oil and gas operators in Wyoming, mandating the Oil and Gas Conservation Commission to create rules that provide various bonding options. It introduces a bonding pool that operators can voluntarily join, contingent upon their good standing with the commission. The bill outlines the financial assurance needed for plugging dry or abandoned wells and reclamation, and it allows the commission to impose assessments on operators based on the market value of oil and gas produced. The assessment will be zero from July 1, 2025, to June 30, 2030, and may be set at a maximum of $0.0005 per dollar thereafter. Additionally, the commission is required to report annually on the bonding program's status.

The bill also amends existing laws to clarify the use of funds collected from assessments, specifying that they will be used for plugging abandoned wells and other related expenses. It includes provisions for the commission to enter into agreements with federal agencies for well plugging and reclamation without forfeiting federal bonds. Furthermore, it emphasizes that operators must still meet their existing bonding obligations and outlines the process for reducing bonding requirements based on risk assessments. The act is set to take effect on July 1, 2025, with certain sections becoming effective immediately upon the bill's passage.

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