Interior Plans Hike in Bonding Requirements To Cover Remediation Costs of Oil, Gas Wells

摘要

The Department of the Interior has agreed to increase minimum bonding requirements for operators of oil and natural gas wells to cover the potential costs of closing and cleaning up the sites of idle and orphan wells, accerding to a federal report. The Government Accountability Office recommended in a report released Feb. 25 that the minimum bonding requirements be' increased over time to strengthen bonding as a tool for ensuring operators' compliance with regulations.