Oil and Gas Bonds: Bonding Requirements and BLM Expenditures to Reclaim Orphaned Wells
DIANE Publishing, 2011 - 58 pages
This is a print on demand edition of a hard to find publication. The Bureau of Land Mgmt. (BLM) requires oil and gas operators to reclaim the land they disturb and post a bond to help ensure they do so. If the bond is not sufficient to cover well plugging and surface reclamation and there are no responsible or liable parties, the well is considered "orphaned," and BLM uses fed. dollars to fund reclamation. This report: (1) determined the number, value, and coverage of bonds held by BLM for oil and gas oper.; (2) determined the amount that BLM has paid to reclaim orphaned wells over the past 20 years and the number of orphaned wells BLM has identified but has not yet reclaimed; and (3) compared BLM's bonding requirements for oil and gas operations with those the 12 western states use for oil and gas oper. Illustrations.
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12 western active bonds AFMSS Agency and Resource Alaska Amount Types permitted analysis of BLM Appendix Approach Amount Types BLM data BLM officials BLM state office bond amount based bond and surety bond Approach Amount bond minimums Bonds State Scope California Certificate of deposit certified check coal Colorado drilling established estimated reclamation costs Extraction of Federally FDIC federal lands federally insured Federally Owned Resources feet deep financial assurance fiscal GAO analysis Gas Bonds gas leases gas operations Hardrock Minerals idle increase Individual lease bond Individual well bond irrevocable letter letter of credit Mexico million minimum amounts minimum bond amounts Montana National Petroleum Reserve National Petroleum Reserve-Alaska nationwide bond Nevada number and value number of orphaned oil and gas oil shale operator’s personal bonds reclaim orphaned Requirements the 12 Scope of bond September 30 Statewide bond Surety bond surety system total number Treasury securities Utah value of bonds well’s Wyoming