Oil and gas; operators; active wells; liability coverage; surety bond; amount; location damage; effective date.

HB 1707 requires oil and gas operators in Oklahoma with active wells to maintain either $500,000 in liability insurance coverage or a $25,000 surety bond (financial guarantee) to cover property damage from drilling operations. This directly affects operators who must file these guarantees with the Secretary of State and county courts, ensuring surface owners can seek payment for damages if operators fail to cover costs. The bill mandates that bonds or insurance remain valid during drilling operations and require operators to pay additional amounts if damages exceed the posted coverage. It takes effect November 1, 2025.