Oil and gas operators need more insurance, or bonding. That’s what the leaders of several state agencies told the legislature’s Minerals Committee at a meeting today. They said there’s a gap in how much money is available and how much is needed to deal with abandoned oil and gas wells. The question is: where will that money come from?
Oil and Gas Commission Supervisor, Grant Black, says the bonding structure can be changed to avoid similar problems in the future.
The Wyoming Senate defeated a bill dealing with seismic exploration, reconsidered it, and then passed it.
Supporters say that the goal of the legislation is to set tiered bonding for seismic exploration.
Wyoming Stockgrowers Association Executive Vice President Jim Magagna says the bonding will be based on the size of the acreage being accessed. He says that the bill was amended to say that when seismic