{"data":{"id":"us-ok/okla.-stat.-tit.-52-52-318.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 52, § 52-318.4","heading":"Undertakings which may be posted as damage deposit","body":"A. Every operator doing business in this state shall file a\n\ncorporate surety bond, letter of credit from a banking institution,\n\ncash, or a certificate of deposit with the Secretary of State in the\n\nsum of Twenty-five Thousand Dollars ($25,000.00) conditioned upon\n\ncompliance with Sections 318.2 through 318.9 of this title for\n\npayment of any location damages due which the operator cannot\n\notherwise pay. The Secretary of State shall hold such corporate\n\nsurety bond, letter of credit from a banking institution, cash or\n\ncertificate of deposit for the benefit of the surface owners of this\n\nstate and shall ensure that such security is in a form readily\n\npayable to a surface owner awarded damages in an action brought\n\npursuant to this act. Each corporate surety bond, letter of credit,\n\ncash, or certificate of deposit filed with the Secretary of State\n\nshall be accompanied by a filing fee of Ten Dollars ($10.00).\n\nB. The bonding company or banking institution shall file, for\n\nsuch fee as is provided for by law, a certificate that said bond or\n\nletter of credit is in effect or has been canceled, or that a claim\n\nhas been made against it in the office of the court clerk in each\n\ncounty in which the operator is drilling or planning to drill. Said\n\nbond or letter of credit must remain in full force and effect as\n\nlong as the operator continues drilling operations in this state.\n\nEach such filing shall be accompanied by a filing fee of Ten Dollars\n\n($10.00).\n\nC. Upon deposit of the bond, letter of credit, cash, or\n\ncertificate of deposit, the operator shall be permitted entry upon\n\nthe property and shall be permitted to commence drilling of a well\n\nin accordance with the terms and conditions of any lease or other\n\nexisting contractual or lawful right.\n\nD. If the damages agreed to by the parties or awarded by the\n\ncourt are greater than the bond, letter of credit, cash, or\n\ncertificate of deposit posted, the operator shall pay the damages\n\nimmediately or post an additional bond, letter of credit, cash, or\n\ncertificate of deposit sufficient to cover the damages. Said\n\nincrease in bond, letter of credit, cash, or certificate of deposit\n\nshall comply with the requirements of this section.","path":["OK Code","Title 52"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os52.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"cd48b04e273975a4265287212151cfd7a0d3a2f7c418d0a020d69b6744198af9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-52-52-318.3","next":"us-ok/okla.-stat.-tit.-52-52-318.5"},"notice":"GroundRules: Original legal text. Not legal advice."}