Enrolled Bill Summary

House Bill 942 amends the Natural Resources Code to exempt certain persons engaged in activities other than ownership or operation of oil and gas wells from the requirement to execute a bond or alternate form of financial security at the time of filing or renewing an organization report with the Railroad Commission of Texas. All other persons involved in activities other than ownership or operation of wells must provide financial security in an amount up to $25,000. The bill requires a person engaged in more than one activity or operation requiring financial security to file an amount equal to the greatest amount required for any one activity and establishes that this amount provides financial security for all of the person's activities. The bill increases the fee for filing or renewing an organization report for an operator of one or more natural gas pipelines and an operator of liquids pipelines who also operates one or more wells and establishes the fee amount for an operator of one or more liquids pipelines who does not operate any wells.