SB 1568: Corporation Commission; modifying authority over certain injection wells; establishing process for Class VI facility applications and unitization. Effective date.
This bill grants the Oklahoma Corporation Commission exclusive authority to regulate specific injection wells, including those used for carbon dioxide sequestration under the state's Carbon Capture and Geologic Sequestration Act. It establishes a formal application and hearing process for Class VI facilities, which are designed for storing carbon dioxide underground, and creates a revolving fund to support these operations. Additionally, the legislation clarifies the commission's jurisdiction over various oil and gas activities, such as pipeline construction and waste handling, while outlining procedures for unitizing pore space and issuing completion certificates for qualifying facilities.