Oklahoma legislation · 2026 Regular Session
Oklahoma SB1976: Oil and gas; authorizing certain operators to make voluntary election. Emergency.
Status: Signed into law, May 6, 2026
What the bill says
An Act relating to oil and gas; amending 52 O.S. 2021, Section 318.1, as amended by Section 1, Chapter 24, O.S.L. 2025 (52 O.S. Supp. 2025, Section 318.1), which relates to agreement as to compliance with drilling and plugging regulations; authorizing certain operators to make voluntary election; requiring certain notice; authorizing retention of certain right; requiring certain permanence beyond expiration; requiring operators to post surety by certain date; updating statutory language; and declaring an emergency. SUBJECT: Oil and gas surety elections.
From the enrolled text, April 30, 2026:
An Act relating to oil and gas; amending 52 O.S. 2021, Section 318.1, as amended by Section 1, Chapter 24, O.S.L. 2025 (52 O.S. Supp. 2025, Section 318.1), which relates to agreement as to compliance with drilling and plugging regulations; authorizing certain operators to make voluntary election; requiring certain notice; authorizing retention of certain right; requiring certain permanence beyond expiration; requiring operators to post surety by certain date; updating statutory language; and declaring an emergency. SUBJECT: Oil and gas surety elections SECTION 1. AMENDATORY 52 O.S. 2021, Section 318.1, as amended by Section 1, Chapter 24, O.S.L. 2025 (52 O.S. Supp. 2025, Section 318.1), is amended to read as follows: Section 318.1. A. Any person who drills or operates any well for the exploration, development, or production of oil or gas, or as an injection or disposal well, within this state, shall furnish in writing, on forms approved by the Corporation Commission, his or her agreement to drill, operate, and plug wells in compliance with the rules of the Commission and the laws of this state, together with evidence of financial ability to comply with the requirements for plugging, closure of surface impoundments, removal of trash and equipment as established by the rules of the Commission and by law. To establish evidence of financial ability, the Commission shall require: 1. …