§ 14-37-6-1 — Bonds required for oil and gas well applicants

Indiana § 14-37-6-1

• Jurisdiction: Indiana
• Art. 37: OIL AND GAS
• Ch. 6: Bonding

Text

(a) Except as otherwise provided in this
chapter, this section applies to the following:
(1) An applicant for a permit under this article who has never
been granted a permit for a well for oil and gas purposes under
this article.
(2) A person who has demonstrated a pattern of violation under
this article within the previous two (2) years.
(3) A person who has failed to pay a civil penalty imposed under
IC 14-37-13.
(4) A person who has failed to pay an annual fee required under
IC 14-37-5.
(b) In addition to the annual fee required under IC 14-37-5, an
applicant or a person described in subsection (a) shall execute and file
with the department:
(1) a bond of two thousand five hundred dollars ($2,500) for each
well;
(2) a bond in any amount if the number of wells does not exceed
the number determined by dividing the principal amount of the
bond by two thousand five hundred dollars ($2,500); or
(3) a blanket bond of forty-five thousand dollars ($45,000) for any
number of wells.
[Pre-1995 Recodification Citation: 13-8-8-1.]

Legislative History

As added by P.L.1-1995, SEC.30. Amended by P.L.48-2002, SEC.4.