Form B-B "Blanket Plugging Bond" - New Mexico

What Is Form B-B?

This is a legal form that was released by the New Mexico Energy, Minerals and Natural Resources Department - a government authority operating within New Mexico. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on January 14, 2019;
  • The latest edition provided by the New Mexico Energy, Minerals and Natural Resources Department;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a printable version of Form B-B by clicking the link below or browse more documents and templates provided by the New Mexico Energy, Minerals and Natural Resources Department.

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FORM B-B
1/14/2019
STATE OF NEW MEXICO
Energy, Minerals and Natural Resources Department
Oil Conservation Division
1220 South St. Francis Drive, Santa Fe, New Mexico 87505
BLANKET PLUGGING BOND (“Bond”)
BOND NO._______________
KNOW ALL MEN BY THESE PRESENTS:
Name of Operator (“Operator”):
Operator’s Mailing Address:
State in which Operator is Organized:
Operator’s OGRID Number:
Name of Surety:
Surety Company’s Mailing Address:
Required Financial Assurance (“Financial Assurance”)(choose one):
҉
$50,000.00 and covering one to ten wells
$75,000.00 and covering eleven to fifty wells ҉
$125,000.00 and covering fifty-one to 100 wells ҉
$250,000.00 and covering more than 100 wells ҉
WHEREAS, Operator, authorized to do business in the State of New Mexico, and Surety,
authorized by the Superintendent of Insurance to do business in the State of New Mexico, pursuant to
NMSA 1978, Section 70-2-14, as may be amended from time to time, are jointly and severally, firmly
bound to the State of New Mexico’s Energy, Minerals and Natural Resources Department
(“Department”), or its successor, for payment of the amount of the Financial Assurance indicated
above.
WHEREAS, Operator has commenced or may commence the drilling of a well or wells to
prospect for and/or produce oil and/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 lands within the
State of New Mexico, or does own or operate such a well or such wells, the identification and location
of said wells being expressly waived by both Operator and Surety.
NOW, THEREFORE, Operator and Surety expressly agree, under this Bond obligation, they
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 statutes, rules, and orders of
the Department’s Oil Conservation Division, Oil Conservation Commission, or a court of competent
jurisdiction, including, but not limited to, 19.15.8.9, 19.15.25.8, and 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.
FORM B-B
1/14/2019
STATE OF NEW MEXICO
Energy, Minerals and Natural Resources Department
Oil Conservation Division
1220 South St. Francis Drive, Santa Fe, New Mexico 87505
BLANKET PLUGGING BOND (“Bond”)
BOND NO._______________
KNOW ALL MEN BY THESE PRESENTS:
Name of Operator (“Operator”):
Operator’s Mailing Address:
State in which Operator is Organized:
Operator’s OGRID Number:
Name of Surety:
Surety Company’s Mailing Address:
Required Financial Assurance (“Financial Assurance”)(choose one):
҉
$50,000.00 and covering one to ten wells
$75,000.00 and covering eleven to fifty wells ҉
$125,000.00 and covering fifty-one to 100 wells ҉
$250,000.00 and covering more than 100 wells ҉
WHEREAS, Operator, authorized to do business in the State of New Mexico, and Surety,
authorized by the Superintendent of Insurance to do business in the State of New Mexico, pursuant to
NMSA 1978, Section 70-2-14, as may be amended from time to time, are jointly and severally, firmly
bound to the State of New Mexico’s Energy, Minerals and Natural Resources Department
(“Department”), or its successor, for payment of the amount of the Financial Assurance indicated
above.
WHEREAS, Operator has commenced or may commence the drilling of a well or wells to
prospect for and/or produce oil and/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 lands within the
State of New Mexico, or does own or operate such a well or such wells, the identification and location
of said wells being expressly waived by both Operator and Surety.
NOW, THEREFORE, Operator and Surety expressly agree, under this Bond obligation, they
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 statutes, rules, and orders of
the Department’s Oil Conservation Division, Oil Conservation Commission, or a court of competent
jurisdiction, including, but not limited to, 19.15.8.9, 19.15.25.8, and 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 Department’s Oil Conservation
Division of written notice of cancellation from the Surety, the obligation of the Surety shall terminate
as to wells acquired, drilled, or started, after said 30-day period, but shall continue in effect,
st
notwithstanding said notice, as to wells before the 31
day after receipt of said notice; under such
circumstances, the determination of wells currently already drilled, acquired, and started shall be
st
determined by the Department’s records as said records exist on the 31
day after receipt of said notice.
___________________________________
________________________________
PRINCIPAL
SURETY
___________________________________
________________________________
Address
Address
By________________________________
By______________________________
Signature
Attorney-in-Fact
__________________________________
Title
If PRINCIPAL is a corporation, affix
Corporate surety affix corporate
corporate seal here
seal here
Form B-B
ACKNOWLEDGMENT FORM FOR INDIVIDUAL
(If dba, must read – Example: John Doe dba ABC Services)
STATE OF ________________)
SS.
COUNTY OF______________)
This Instrument was acknowledged before me on this _____________day of _____________________________,
by______________________________________________.
(Name of Individual)
_________________________________
Notary Public
SEAL
___________________________
My Commission Expires
ACKNOWLEDGMENT FORM FOR CORPORATION, PARTNERSHIP, OR LIMITED LIABILITY
COMPANY
STATE OF _________________)
SS.
COUNTY OF______________________)
This Instrument was acknowledged before me on this ____________day _______________________20_______
by______________________________________________ as _______________________________________________
(Name of Person Signing Instrument )
(Capacity, e.g. President, Partner, Manager, Member)
of_______________________________________________.
(Name of Corporation, Partnership, Limited Liability Company)
_________________________________
Notary Public
SEAL
_________________________
My Commission Expires
ACKNOWLEDGMENT FORM FOR CORPORATE SURETY
STATE OF ______________________)
SS.
COUNTY OF____________________)
This Instrument was acknowledged before me on this ___________day of ________________________20_____
by__________________________________________, as Attorney-in-Fact for__________________________________
(Name of Attorney-in-Fact)
(Name of Corporate Surety)
_________________________________
Notary Public
SEAL
_________________________
My Commission Expires
Corporate surety attach power of attorney
APPROVED BY:
Oil Conservation Division of New Mexico
By____________________________________
Date___________________________________
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