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Under BLM policy, the agency must periodically review the status of these
idle wells to ensure that the operator has legitimate reasons for allowing
the wells to remain idle. According to BLM officials, the primary purpose
of idle-well reviews is to ensure that these wells do not become
orphaned—that is, they lack a bond sufficient to cover reclamation costs
and there are no responsible or liable parties to perform reclamation.
States have adopted laws and regulations governing oil and gas
development on state and private lands, including bond and reclamation
requirements. In addition, other Interior programs and offices that are...
Nội dung trích xuất từ tài liệu:
The Microstructure of the Bond Market in the 20th Century∗
