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

HB 1707 increases financial responsibility requirements for oil and gas operators in Oklahoma. It mandates that operators of active wells maintain either $500,000 in liability insurance or a $500,000 surety bond, letter of credit, cash, or certificate of deposit filed with the Secretary of State. This security ensures surface owners (landowners) can recover damages from drilling operations if operators cannot pay directly. The bill raises the previous minimum requirement from $25,000 to $500,000 and requires ongoing coverage during all drilling activities, effective November 1, 2025.