California AB2461 modifies bonding requirements for oil and gas wells and production facilities.
California AB2461 amends the Public Resources Code to revise bonding requirements for oil and gas wells and production facilities. It mandates that individuals or entities acquiring control of a well or production facility must file an individual indemnity bond or a blanket indemnity bond for multiple facilities. The bond amount is determined by the supervisor based on the costs of plugging and abandonment, decommissioning, and site restoration.
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