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15-72-204. Prerequisite for drilling permit — Operator's proof of financial responsibility.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-72-204. Prerequisite for drilling permit — Operator's proof of financial responsibility.
(a) Before the Oil and Gas Commission issues a permit to drill, an operator who is doing business in this state and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.
(b) Before the commission transfers a well and issues a producer's certificate of compliance and authorization to transport oil or gas, a person who acquires the right of an operator of an existing well and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-72-204
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:15-72-204
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 5e7b569365535612f130d5a83da738c21c60381ce40d46752ddcc9cb0e9db7de
Source location: content.xml paragraph 23803
Stored source content
15-72-204. Prerequisite for drilling permit — Operator's proof of financial responsibility.
(a) Before the Oil and Gas Commission issues a permit to drill, an operator who is doing business in this state and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.
(b) Before the commission transfers a well and issues a producer's certificate of compliance and authorization to transport oil or gas, a person who acquires the right of an operator of an existing well and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.
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Arkansas Code — all titles (historical 2020) · legal_authorities
15-71-116. Annual fee assessment.
(a)(1) The Oil and Gas Commission shall establish by rule a fee structure to be paid annually by well operators of only those wells producing liquid hydrocarbons.
(2) The date for payment of the first annual fee assessment shall be determined by rule.
(3) All annual fees collected shall be deposited into the Abandoned and Orphaned Well Plugging Fund.
(b)(1) All bonds or other financial assurances in effect on August 12, 2005, shall remain in effect until released by the commission from obligation through payment of the initial fund fee assessment under this section.
(2)(A) Additionally, a person shall file and maintain with the commission the amount of financial security required under this section for two (2) consecutive calendar years of payments to the fund until the required payments have been made if the person is a well operator who:
(i) Did not operate a well before August 12, 2005; or
(ii) Has not after August 12, 2005, made annual payments to the fund for at least two (2) consecutive calendar years preceding an application to drill or transfer wells.
(B)(i) When the operator has made the required payments, the financial security shall be released.
(ii) However, the financial security shall not be released under subdivision (b)(2)(B)(i) of this section if the commission has filed a claim against the financial security instrument.
(c)(1) Fees shall be assessed for each calendar year, commencing on a date to be established by the commission, for all wells of record on January 1 of each year and each subsequent year.
(2) The fees assessed by the commission under this section are in addition to any other fees required by law.
(3) All fees assessed under this section shall be submitted to the commission no lat
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-71-116
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 15-71-116. This identifies an authority to review, not proof of applicability.