Section 19-6-806 - Abandoned and Orphan Well Plugging Fund

The Abandoned and Orphan Well Plugging Fund shall consist of those special revenues as specified in § 19-6-301 (230), proceeds from the transfer of a well, well-site equipment, or hydrocarbons from the well as established by § 15-72-217(b)(2), grants, gifts, and any other revenues as may be authorized by law, there to be used by the Oil and Gas Commission to provide security in the event an oil and/or gas well operator fails to perform plugging responsibilities under § 15-72-217 or fails to correct well conditions that create an imminent danger to the health or safety of the public, or threaten significant environmental harm or damage to property.Acts 2007, No. 407, § 17; 2011, No. 1008, § 9.