Salt Water Disposal Damage Bond - New Mexico

Salt Water Disposal Damage Bond is a legal document that was released by the New Mexico State Land Office - a government authority operating within New Mexico.

FAQ

Q: What is a Salt Water Disposal Damage Bond?
A: A Salt Water Disposal Damage Bond is a form of security deposit required by the state of New Mexico for companies operating salt water disposal wells.

Q: Why is a Salt Water Disposal Damage Bond required?
A: The bond is required to ensure that operators of salt water disposal wells have the financial means to clean up and remediate any damage caused by these operations.

Q: Who needs to obtain a Salt Water Disposal Damage Bond?
A: Any company or individual operating a salt water disposal well in New Mexico needs to obtain this bond before commencing operations.

Q: How much does a Salt Water Disposal Damage Bond cost?
A: The cost of the bond varies depending on the specific circumstances of each operator, but it generally ranges from a few thousand dollars to tens of thousands of dollars.

Q: How long does a Salt Water Disposal Damage Bond need to be maintained?
A: The bond must be maintained for as long as the operator continues to operate the salt water disposal well in New Mexico.

Q: What happens if a Salt Water Disposal Damage Bond is not obtained?
A: Operating a salt water disposal well without obtaining the required bond is a violation of state regulations and may result in fines, penalties, or the cessation of operations.