How much does an oil or gas well bond cost in West Virginia?
The West Virginia Department of Environmental Protection requires surety bonds from operators of: * single oil or gas well * single liquid injection well * single waste disposal well * multiple wells
Bond amounts for single oil or gas well, single liquid injection well or single waste disposal well are typically $5,000. Blanket bonds for these wells are usually $50,000. Applicants should verify their required bond amount with the state prior to bonding.
The best way to determine exactly how much you’ll pay for your West Virginia surety bond is to request your free bond quote now!
|Bond Type||Bond Amount||Cost by Credit Score*|
|680 and up||679 - 600||599 or lower|
|Bond for Single Oil or Gas Well, Single Liquid Injection Well or Single Waste Disposal Well||$5,000||Starts at $100||$200-$400||$500+||Apply Now|
|Blanket Bond for Oil and Gas Wells, Liquid Injection Wells or Waste Disposal Wells||$50,000||Starts at $500||$2,000-4,000||$5,000+||Apply Now|
If you’re ready to become bonded quickly, easily and accurately, call SuretyBonds.com at 1 (800) 308-4358 or click here to fill out an online bond request form. Our experts can provide your free surety bond quote within 1 business day of submitting your application!
Why do I need this bond?
Oil and gas well bonds in West Virginia are put in place to ensure that principals (oil and gas well operators) perform all duties in accordance with all laws of the state. Under this bond, well workers must:
- plug and abandon wells after the work has been completed in full in accordance with Chapter 22, Article 6 of the West Virginia Code
- commence the reclamation of the area of land disturbed in siting, drilling, completing or producing the well
- clear all waste and excess materials from the site after completion of the project
- and more
If the principal violates the terms of his or her bond agreement and the state or individual is harmed as a result, the bond will cover all financial losses up to the full penal sum of the bond. The principal must reimburse the surety for all damages paid out.
What’s the fine print?
West Virginia oil, gas or waste disposal well bonds run continuously unless otherwise canceled.
The applicant must indicate on the bond form if he or she is an individual, a partnership, a corporation or a limited liability company. A notary public must acknowledge the surety bond contract.
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