Is the new bonding structure retroactive on existing blanket bonds?
No, the new rates are only effective for new wells to be permitted after the effective date of July 15th, 2006. Any operator that is currently operating under a current blanket bond can continue to operate at their current amount for the wells covered under their bond. If they wish to add new wells or drill new permits (issued after July 15th), then they must upgrade their bond to the new tiered structure. But otherwise, a current blanket bond operator that adds no new wells can continue to operate those wells and the new bond structure will have no effect.
