Bond requirement increased for NM Oil and Gas Wells

Category: Uncategorized
Published: Sep 20, 2011
HB 297: Financial Assurance – Oil and Gas Wells

Under this bill the maximum amount of financial assurance for permit tees operation an oil gas or service well in the state will be increased. Surety bonds can be accepted to meet this requirement, and the law caps the assurance for a blanket bond covering multiple wells at 50K. The new bill would increase this cap to 500K.

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Robin Kix

Robin Kix is currently the Renewal Department Manager. Since joining Lance Surety in 2014, she has helped thousands of businesses throughout the nation remain compliant at the federal, state and local level. She has significant experience supporting commercial bond lines, particularly in the automobile, transportation and construction industries. Robin and her team work together to create a positive customer service experience at the time of every policy renewal, whether that be finding the best pricing or offering additional assistance.

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