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.

FAQ

Q: What is the Form B-B Blanket Plugging Bond?
A: The Form B-B Blanket Plugging Bond is a type of surety bond required in New Mexico.

Q: Who requires the Form B-B Blanket Plugging Bond?
A: The Form B-B Blanket Plugging Bond is required by the New Mexico Oil Conservation Division (OCD).

Q: What is the purpose of the Form B-B Blanket Plugging Bond?
A: The purpose of the Form B-B Blanket Plugging Bond is to ensure that wells are properly plugged and abandoned to protect public health and the environment.

Q: How much does the Form B-B Blanket Plugging Bond cost?
A: The cost of the Form B-B Blanket Plugging Bond varies depending on factors such as the number of wells covered and the bonding company.

Q: Do I need a Form B-B Blanket Plugging Bond if I have existing wells?
A: Yes, if you have existing wells in New Mexico, you may need a Form B-B Blanket Plugging Bond.

Q: How long do I need to maintain the Form B-B Blanket Plugging Bond?
A: The length of time you need to maintain the Form B-B Blanket Plugging Bond is determined by the OCD.

Q: Can I obtain a Form B-B Blanket Plugging Bond from any bonding company?
A: No, the bonding company must be approved by the OCD to issue Form B-B Blanket Plugging Bonds.