(a) The table in this section shows the minimum bond amounts, that the BLM will adjust every 10 years by a final rule. The BLM will adjust the amounts according to the change in the Implicit Price Deflator for Gross Domestic Product since the previous adjustment. The minimum bond amounts displayed below are effective on June 22, 2024.
Table 1 to Paragraph (a)—Minimum Bond Amount Table
| Oil and gas (parts 3100, 3110, 3120, 3130, 3140):
| Minimum bond amount
|
|---|
| Lease Bond | $150,000
|
| Statewide Bond | 500,000 |
(b) The Minimum Bond Amount are not subject to appeal to the Interior Board of Land Appeals pursuant to 43 CFR part 4, subpart E.
(c) Principals must increase or replace all bonds not meeting the appropriate minimum bond amount in paragraph (a) by:
(1) June 22, 2026, for statewide; and
(2) June 22, 2027, for lease bonds.
(d) Failure to increase or replace an existing bond that does not meet the minimum bond amount may:
(1) Subject all wells covered by the bond(s) to shut down under the provisions of 43 CFR 3163.1(a)(3);
(2) Subject all leases covered by the bond(s) to cancellation under the provisions of 43 CFR 3108.30; and
(3) Result in the BLM referring the bond obligor or principal to the Department's Suspension and Debarment Program under 2 CFR part 1400 to determine if the person will be suspended or debarred from doing business with the Federal Government.