Texas Natural Resources Code
§ 91.1042 — BLANKET BOND
NR § 91.1042Title 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)A person required to file a bond, letter of credit, or cash deposit under Section 91.103 may file a blanket bond to cover all wells for which a bond, letter of credit, or cash deposit is required as follows:
(1)a person who operates 10 or fewer wells shall file a $25,000 blanket bond;
(2)a person who operates more than 10 but fewer than 100 wells shall file a $50,000 blanket bond; and
(3)a person who operates 100 or more wells shall file a $250,000 blanket bond.
(b)Notwithstanding Subsection (a), the commission by rule shall set the amount of the bond for an operator of bay or offshore wells at a reasonable amount that exceeds the amount provided by Subsection (a)(1), (2), or (3), as applicable.
(c)When calculating the number of an operator's wells for purposes of Subsection (a), the commission shall exclude a well if the well bore is included in a well-specific plugging insurance policy described by Section 91.104(c).
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Legislative history
Acts 2005, 79th Leg., Ch. 489 (H.B. 380), Sec. 3, eff. June 17, 2005.