Don't Dump Your Money Down A Well

Law360, New York (May 5, 2011, 12:11 PM EDT) -- Effective Sept. 13, 2010, the Texas Railroad Commission adopted a new rule on the plugging of inactive oil and gas wells and the removal of associated surface equipment. The new rule, codified with existing Statewide Rule 15, applies to onshore wells and was instituted principally to address the risks presented by live electrical lines connected to inactive wells as well as to contain the increasing cost to the state of plugging inactive wells.

In order to comply, operators are required to plug the well and remove...
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