$25,000 West Virginia Reclamation Bond
SB 258: Reclamation Bonds
This will authorize and provide procedures for the use of hydraulic fracturing and horizontal drilling for the extraction of natural gas through this bill. A $25,000 surety bond per well would be required under this bill. This is to ensure the compliance with all applicable laws and rules relating to the drilling, re-drilling, deepening, casing, stimulating, and the plugging of gas wells. This will also pertain to the plugging of gas wells, abandonment, reclamation of wells, and for the furnishing of such reports required.
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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.
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