Colorado Oil & Gas Lease Surety Bond
Before any surface-disturbing activities related to drilling can begin, lessee's or their operator must furnish a Oil & Gas Lease Surety Bond in a minimum amount of $10,000 to ensure compliance with all the lease terms, including protection of the environment. With the consent of the surety and principal, the operator may use the Oil & Gas Lease Surety Bond of another party such as the lessee. Each time there is a new operator, that operator must notify the BLM that he/she is the responsible operator, giving the particulars of the Oil & Gas Lease Surety Bond under which they will operate.
The Colorado BLM may require an increase in the Oil & Gas Lease Surety Bond amount any time conditions warrant such an increase.
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