Added by Stats. 2023, Ch. 359, Sec. 2. (AB 1167) Effective January 1, 2024.
(a)It is the intent of the Legislature that the oil and gas industry pay for all necessary costs of plugging and abandonment and site restoration of oil and gas wells.
(b)It is the intent of the legislature that, to minimize the risk that the state will be liable for costs of plugging and abandonment, no well be transferred to another owner until and unless a bond has been filed that would cover the full cost of plugging and abandonment and site restoration.
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