What’s the New Surety Bond Requirement?
The new bill, titled SB 189, increases the maximum amount of the financial assurance required to secure the proper plugging and abandonment of an oil, gas, or service wells from $50,000 to $250,000. Surety bonds are accepted to meet the requirement, among other forms of security. The bill was enacted on 2/28/2018.
Why Choose JW Surety Bonds?
We are the nation’s largest volume bond producer, and provide the lowest rates in the industry. It’s also crucial that you understand that you’re responsible to pay any claims filed on your bond. When you partner with our company, you will have a dedicated claim specialist assigned to your account to ensure claim payouts are either reduced or avoided all together.
Get a Free Quote Instantly Online
If you’re ready to get a surety bond for this newly increased bond requirement, you can simply apply online.