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Mississippi Oil and Gas Well Bond

How much does an oil and gas well bond cost in Mississippi?

The Mississippi Board of Oil and Gas Board requires those who own or operate oil and/or gas wells to post a surety bond to legally work within the state. The required bond amounts vary which makes the premiums for these bonds also vary. The premium an applicant pays depends on their credit score. An applicant with excellent credit could pay as low as 1% of the total bond amount.

The cost for an oil and gas well bond depends on the depth of the well. The prices are as follows:

  • $20,000 if the depth is from 0 to 10,000 feet deep
  • $30,000 if the depth is from 10,001-16,000 feet deep
  • $60,000 if the depth is from 16,0001-or more feet deep

The Mississippi Oil and Gas board may increase the required bond amount if it sees fit. Applicants must verify their required bond amount with the state prior to bonding.

These bonds are subject to underwriting, so the best way to find out exactly how much you’ll pay for your surety bond is to request a free surety bond quote now!

Bond Type Bond Amount Cost by Credit Score*
680 and up 679 - 600 599 or lower
Oil and Gas Well Bond One well - depth of 10,000 feet or less $20,000 Starts at $200 $800-1,600 $2,000+ Apply Now
Oil and Gas Well Bond One well - depth of 10,001-16,000 feet $30,000 Starts at $300 $1,200-2,400 $3,000+ Apply Now
Oil and Gas Well Bond One well - depth of 16,001 feet or more $60,000 Starts at $600 $2,400-4,800 $6,000+ Apply Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

Call 1 (800) 308-4358, or submit a bond request, to connect with our team of experts. We can typically provide you with a free, no-obligation surety bond quote within 1 business day of submitting your application.

Why do I need this bond?

Mississippi oil and gas well surety bonds ensure that the principal (well operator) operates these wells in compliance with the provisions of the laws of the state and the rules, regulations and orders of the Oil and Gas Board. For example, all wells must adhere to regulations and have blowout preventers (BOPs) as a precautionary measures. The bond also covers the proper plugging of well or wells, the restoration of the surfaces of well or wells and the filing of all required notices and records with the board.

All rules and regulations can be found in the ”Mississippi State Oil and Gas Well Rule Book” link in the important links section below.

Don’t fall out of compliance with the laws of your state and industry! Begin the simple bonding process now.

What’s the fine print?

Mississippi oil and gas well bonds are in effect for one-year then they must be renewed unless claimed against or cancelled. However, the surety must give 120 days written notice to the obligee before the cancellation is in effect.

Remember, oil and gas well bond premiums vary depending on the depth of a well so it is necessary that an applicant communicates with the state to ensure the correct bond is purchased.

How to become an oil and gas well operator in Mississippi

To become a registered oil and gas well operator, applicants must:

  • Fill out a performance bond application on the Mississippi Oil and Gas Board webpage
  • Post a surety bond for the correct amount
  • Pay $500 permit fee

The Mississippi Oil and Gas Board web page provides all the resources an applicant needs to become an oil and gas operator. The Mississippi Oil and Gas Board link below is to their homepage and the application can be found under the publications tab.

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Mississippi Oil and Gas Board

Oil and Gas Board Contact Information

Mississippi State Oil and Gas Board Rule Book

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