Form O And G B-B - 50,000 Blanket Plugging Bond printable pdf download

FORM O & G B-B

Adopted 6-17-77

Revised 4-20-2009

STATE OF NEW MEXICO

$50,000 BLANKET PLUGGING BOND

BOND NO._______________

File with the OIL CONSERVATION DIVISION, 1220 South St. Francis, Santa Fe, New Mexico 87505

KNOW ALL MEN BY THESE PRESENTS:

That_____________________________________________, (an individual –

If dba, must read – Example: John Doe

) (a corporation) (a general partnership), (a limited liability company) (a limited partnership)

dba ABC Services

organized in the State of ____________________, and authorized to do business in the state of New Mexico, as

PRINCIPAL, and _____________________________________, a corporation organized and existing under the

laws of the State of ____________________________ and authorized to do business in the State of New

Mexico, as SURETY, are firmly bound unto the State of New Mexico for the use and benefit of the Oil

Conservation Division of the Energy, Minerals and Natural Resources Department (or successor agency) (the

DIVISION) pursuant to NMSA 1978, Section 70-2-14, as amended, in the sum of Fifty Thousand Dollars

($50,000) for the payment of which the PRINCIPAL and SURETY hereby bind themselves and their

successors, jointly and severally, firmly by these presents.

The conditions of this obligation are such that:

WHEREAS, the PRINCIPAL has commenced or may commence the drilling of a well or wells to

prospect for and/or produce oil or gas, carbon dioxide gas, helium gas or brine minerals, or an injection or other

service well or wells related to such exploration or production, on privately owned or state owned lands within

the State of New Mexico, or does own or operate, or may acquire, own or operate such a well or such wells, the

identification and location of said wells being expressly waived by both PRINCIPAL and SURETY.

NOW, THEREFORE, if the PRINCIPAL and SURETY or either of them or their successors or assigns,

or any of them, shall cause all of said wells to be properly plugged and abandoned when dry or when no longer

productive or useful for other beneficial purpose, in accordance with the rules and orders of the DIVISION,

including but not limited to Rules 8.9 [19.15.8.9 NMAC] and 25.10 [19.15.25.10 NMAC], as such rules now

exist or may hereafter be amended;

THEN AND IN THAT EVENT, this obligation shall be null and void; otherwise, and in default of

complete compliance with any and all of said obligations, the same shall remain in full force and effect.

PROVIDED HOWEVER, that 30 days after receipt by the DIVISION of written notice of cancellation

from the SURETY, the obligation of the SURETY shall terminate as to wells acquired, drilled or started, or of

which PRINCIPAL assumes operation, after said 30-day period, but shall continue in effect, notwithstanding

said notice, as to wells theretofore acquired, drilled, started or operated.

___________________________________

________________________________

PRINCIPAL

SURETY

___________________________________

________________________________

Address

By________________________________

By______________________________

Signature

Attorney-in-Fact

__________________________________

Title

If PRINCIPAL is a corporation, affix

Corporate surety affix corporate

corporate seal here

seal here

Form O And G B-B - 50,000 Blanket Plugging Bond

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