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Florida Performance Surety Bond for Plugging and Site Restoration for Single Oil & Gas Wells

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The State of Florida Department of Environmental Protection, Oil and Gas Program is the permitting authority for mining and minerals regulation programs. The program is tasked with conservation of oil and gas resources, health and human safety, environmental protection and rights protection. This includes well plugging and site restoration through a process of permits and field inspections, the program ensures compliance of state laws. The oil and gas program details can be found in Chapter 377 of the Florida Statutes and Rules 62C-25 through 30 of the Florida Administrative Code.

Surety Bond and Permit Requirements:

  1. Pay the application fee
  2. Complete the Drilling Application (Form 3).
  3. Complete the Organization Report (Form 1).
  4. Provide a location plat based on a well location survey.
  5. Provide site construction plans.
  6. Provide casing and cementing details.
  7. Submit a H2S Contingency plan if applicable.
  8. Obtain a $50,000 performance surety bond for each well with a drill depth of less than 9,000 feet or a $100,000 surety bond for well depth over 9,001 feet. The surety bond is based on the number of wells and depth required (Oil & Gas Form 2). Instead of a surety bond, a Letter of Credit, Trust Fund payment, or other form of financial surety can be deposited with the State.
  9. A unique API number will be assigned to each well. Blanket bonds that include multiple well sites will have an API number assigned for each well.

How Much Will This Bond Cost?

The premium that you pay for a Florida Plugging and Site Restoration Performance Surety Bond for each well is dependent on well depth, the number of wells, personal credit, personal financial statements, and experience. Rates start as low as 1% with your good credit.

Did You Know?

All wells that are permitted will be inspected by Oil and Gas staff located in northwest (Jay) or south (Fort Myers).

Related Links:

Florida Oil and Gas Program
Florida Oil and Gas Program Content

More Surety Bond Questions?

Check out our FAQ page or What’s a Surety Bond? page. Should you need or choose to buy a surety bond, buy from us. SuretyGroup.com has been underwriting surety bonds throughout the U.S. for more than 35 years. When you work with us, you enjoy the unique benefit of dealing with a team of highly experienced surety agents with in-house underwriting authority. This allows you to receive competitive, low rates, quick approvals, and immediate bond delivery. In most cases, your bond will be delivered within 24 hours after you apply for it.

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