The minimum bond amounts for individual lease bonds and statewide lease bonds from ten thousand dollars to one hundred fifty thousand dollars and from twenty five thousand dollars to five thousand dollars respectively. This significant increase will tie up capital that would otherwise be put back into production and is unjustifiable, as there are only 37 orphaned oil and gas wells on BLM managed lands. These increases will impact smaller producers who can't afford to operate in the market. These additional fees will ultimately harm returns and reduce revenues to state and local governments. (41:05–41:25)
CLAIM
Asserts that the increase in bond amounts is unjustifiable due to the low number of orphaned wells.
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