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Section ?40.ISC` /J http://w~sgs.uiuc.edWisgsr III III III III IIII III html <br />~'~ ~. ~/ ~ ( /~ ~ ( S 999 <br />svBPART o - corms ~/ ~dC . ~14~'t e ; U~C~ ~~ ~a . <br />Section 240.1500 When Required, Amount and When Released <br />~7 L,i ~7 Q <br />a) To Drill, Deepen, Convert or Operate an Oil or Gas Well ~~I.~G ~ / ~G /~ <br />1) A bond, in the amount as herein provided, shall <br />be submitted along with an application to drill, <br />deepen, convert, operate or transfer a production <br />or Class II well if: <br />A) such applicant was not an owner of the right to <br /> drill and produce a wel l of record with the <br /> Department on September 26, 1991; or <br />B) such applicant was not a permittee of record <br /> on September 26, 1991; or <br />C) such applicant has had a bond forfeited; or <br />D) such applicant was not assessed an annual <br /> well fee as of July 1 p receding the application <br /> date; or <br />E) such applicant has had wells plugged by the <br /> Department using funds from the Plugging and <br /> Restoration Fund. <br />2) When a bond is required to be filed with the Department <br />to drill, deepen, convert or operate an oil or gas well, <br />the amount of the bond shall be: <br />A) $1,500 for a well less than 2000 feet deep; <br />B) 53,000 for a well 2,000 or more feet deep; <br />C) $25,000 for up to 25 wells of a permittee; <br />D) $50,000 for up to 50 wells of a permittee; or <br />E) $100,00 0 for all wells of a permittee. <br />3) A bond submitted pursuant to Section 240.1500(a) shall be <br />released when: <br />A) all wells covered by the bond are plugged and <br />restored in accordance with Subpart K of these <br />rules; or <br />B) all wells covered by the bond are transferred in <br />accordance with Subpart N of these rules; or <br />C) the permittee has paid assessments to the <br />Department in accordance with Section 19.7 for <br />two (2) consecutive years and such permittee is <br />not in violation of the Act. <br />b) To Operate a Liquid Oil Field Waste Transportation System. The <br />amount of bond required to be filed with the Department before a <br />permit is issued authorizing a person to operate a liquid oil field waste <br />system shall be $10,000. When requested by permittee, bond shall be <br />released when the permittee ceases operation and this system and <br />such permittee's system is not in violation of the Act. <br />I of ? 529/99 11:59 AM <br />