SB 1387 is a new law enacted in Texas for the management of carbon dioxide. The law was put in place for the storage of anthropogenic carbon dioxide. This carbon dioxide that is being stored has been segregated, stripped, or divided from any other fluid; along with any that was collected from a source such as clean energy programs or industrial industries. A permit is required to inject the carbon dioxide into injection wells, along with proof of financial responsibility with a performance bond or other financial securities. The proper plugging of an unused well, the availability of funds for plugging, post-injection site maintenance, and closure of the site will be taken care of by the performance bond.
Texas Well Plugging Performance Bond
August 11, 2009 by Tracy Konopka
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Category: Contract Bonds, Performance Bonds, Surety News
Tags: bond requirements, legislation, texas, tx, well plugging bond
[...] bonding – not the kind of bonding you do with the kids over BBQ and touch football, but the bonding that contractors do to make sure they pay attention to their contract. Stevens had the legal skills and the Sitzfleisch [...]
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