WebJul 12, 2024 · The COGCC began the process of seizing the single bond attached to the well last fall, starting with a new, heftier $344,000 fine and issuing the required hearing notices. But a bureaucratic glitch required reissuing the violation and the hearing notice, adding a few months to the process. WebThe mission of the Colorado Oil and Gas Conservation Commission (COGCC) is to regulate the development and production of the natural resources of oil and gas in …
Will Colorado oil and gas wells transferred to small owners be …
WebState bonding rules should also apply on federally owned land. These bonds should be set at the difference between the bond posted with the Bureau of Land Management and the full price of plugging and reclaiming the well. Financial assurances should be required on the basis of rules, and not the discretion of the COGCC director. WebI. Increase Bonding and Clarify Definitions for Inactive Wells Inactive well bonding drives Colorado’s financial assurance system and accounts for the vast majority of all financial assurance for oil and gas wells in the state. COGCC should consider increasing bonding amounts for excess inactive wells above current $10,000/$20,000 levels. maxim home health care colorado
Financial Assurance Technical Working Group Final Report
WebSURETY BOND means a perpetual financial instrument between the surety or issuer and the Commission as obligee, providing Financial Assuranc e that an Operator will comply with all its obligations under the Act and the Commission’s Rules. A Surety Bond may be called and expended by the Commission if an Operator WebJul 15, 2024 · Environmental and community groups have long criticized Colorado’s existing financial-assurance rules as inadequate. Operators can cover up to 100 wells statewide with a “blanket bond” of $60,000, while … WebName of Operator: MINERAL RESOURCES, INC. 4. COGCC Operator Number: 57667 5. Address: PO BOX 328 City: GREELEY State: CO Zip: 80632 6. Contact Name: Collin Richardson Phone: (970)352-9446 Fax: (800)850-9334 7. Well Name: Bestway Well Number: 6-11 ... Permit Bonding issure is resolved, BMP's have been added. Continue … hernandez radiator service 77022