Sec. 551.6. Amount of well financial security: wells over 6,000 feet deep

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The owner of an oil and gas or solution mining well that exceeds or that is expected to exceed 6,000 feet in depth must file financial security for that well in an amount based upon the anticipated costs of plugging and abandoning that well to the satisfaction of the department in accordance with Part 555 of this Title, up to $250,000. However, the owner is not required to file financial security under this section exceeding $2,000,000, regardless of the number of wells described in this section that the owner may have.

                    
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