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Texas Natural Resources Code

§ 89.027 — SUPPLEMENTAL FINANCIAL ASSURANCE

NR § 89.027Title 3. OIL AND GAS · Part B. CONSERVATION AND REGULATION OF OIL AND GAS · Ch. 89. ABANDONED WELLS · Art. B-1. PLUGGING OF CERTAIN INACTIVE WELLS

Statute text

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(a)A supplemental bond, letter of credit, or cash deposit filed under Section 89.023(a)(3)(E) is in addition to any other financial assurance otherwise required of the operator or for the well.
(b)A supplemental bond, letter of credit, or cash deposit may not be transferred to a new operator of an existing inactive well. A new operator of an existing inactive well must file a new supplemental bond, letter of credit, or cash deposit or otherwise comply with the requirements of this subchapter by the deadline provided by Section 89.022(b). Added by Acts 2009, 81st Leg., R.S., Ch. 442 (H.B. 2259), Sec. 2, eff. September 1, 2009. Amended by:

Legislative history

Acts 2011, 82nd Leg., R.S., Ch. 562 (H.B. 3134), Sec. 6, eff. June 17, 2011.

Source: Texas Natural Resources Code § 89.027 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.