Sec. 89.028. ESCROW FUNDS. (a) Escrow funds described by Section 89.023(a)(3)(F) must be deposited with the commission each time an operator files an application for an extension of the deadline for plugging an inactive well.
(b) Escrow funds deposited with the commission may be released only with the approval of the commission as prescribed by commission rule.
Added by Acts 2009, 81st Leg., R.S., Ch. 442 (H.B. 2259), Sec. 2, eff. September 1, 2009.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 562 (H.B. 3134), Sec. 7, eff. June 17, 2011.
Structure Texas Statutes
Subtitle B - Conservation and Regulation of Oil and Gas
Subchapter B. -1. Plugging of Certain Inactive Wells
Section 89.022. Plugging of Inactive Wells Required
Section 89.023. Extension of Deadline for Plugging Inactive Well
Section 89.024. Abeyance of Plugging Report
Section 89.025. Enhanced Oil Recovery Project
Section 89.026. Fluid Level or Hydraulic Pressure Test
Section 89.027. Supplemental Financial Assurance
Section 89.029. Affirmation Regarding Surface Requirements
Section 89.030. Revocation of Extension of Deadline for Plugging Inactive Well