§ 15-72-204 - Prerequisite for drilling permit -- Operator's proof of financial responsibility. - Arkansas Statutes

15-72-204. Prerequisite for drilling permit -- Operator's proof of financial responsibility.

(a) Before the Oil and Gas Commission issues a permit to drill, an operator who is doing business in this state and is not subject to the provisions of 15-71-116 shall file proof of financial responsibility with the commission.

(b) Before the commission transfers a well and issues a producer's certificate of compliance and authorization to transport oil or gas, a person who acquires the right of an operator of an existing well and is not subject to the provisions of 15-71-116 shall file proof of financial responsibility with the commission.