2016 California Code
Public Resources Code - PRC
DIVISION 3 - OIL AND GAS
CHAPTER 1 - Oil and Gas Conservation
ARTICLE 4 - Regulation of Operations
Section 3207.

3207. (a) Any individual or blanket indemnity bond issued in compliance with this chapter may be terminated and canceled and the surety be relieved of all obligations thereunder when the well or wells covered by such bond have been properly completed or abandoned or another valid bond has been substituted therefor. Should the person who has filed a blanket bond properly complete or abandon a portion of his or her wells covered by the bond, the bond may be terminated and canceled and the surety be relieved of all obligations thereunder upon the filing by such person of an individual bond for each well which is still not producing or which he or she is still engaged in drilling, redrilling, deepening, or permanently altering the casing. Liability as to individual wells that have been completed or drilled and abandoned under a blanket bond may also be terminated.

(b) This section shall remain in effect only until January 1, 2018, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2018, deletes or extends that date.

(Amended by Stats. 2016, Ch. 272, Sec. 13. Effective January 1, 2017. Repealed as of January 1, 2018, by its own provisions. See later operative version added by Sec. 14 of Stats. 2016, Ch. 272.)