Texas Natural Resources Code
§ 91.104 — BONDS, LETTERS OF CREDIT, CASH DEPOSITS, AND WELL-SPECIFIC PLUGGING INSURANCE POLICIES
NR § 91.104Title 3. OIL AND GAS · Part B. CONSERVATION AND REGULATION OF OIL AND GAS · Ch. 91. PROVISIONS GENERALLY APPLICABLE · Art. D. PREVENTION OF POLLUTION
Statute text
View on source(a)The commission shall require a bond, letter of credit, or cash deposit to be filed with the commission as provided by Subsection (b).
(b)A person required to file a bond, letter of credit, or cash deposit under Section 91.103 who is an inactive operator or who operates one or more wells must, at the time of filing or renewing an organization report required by Section 91.142, file:
(1)an individual bond as provided under Section 91.1041;
(2)a blanket bond as provided under Section 91.1042; or
(3)a letter of credit or cash deposit in the same amount as required for an individual bond under Section 91.1041 or a blanket bond under Section 91.1042.
(c)A person required to file a bond, letter of credit, or cash deposit under Section 91.103 who operates one or more wells is considered to have met that requirement for a well if the well bore is included in a well-specific plugging insurance policy that:
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Legislative history
Acts 2005, 79th Leg., Ch. 489 (H.B. 380), Sec. 1, eff. June 17, 2005.