Oklahoma’s oil industry pays into a voluntary fund to clean up oil wells, but many drillers opt out. The money that has been refunded to these companies in recent years could have restored an estimated 1,500 orphan well sites.
State regulators could have asked oil companies California Resources Corp. and Aera Energy for an estimated $2.4 billion to guarantee wells are plugged but decided they didn’t have the authority to do so.
For one West Texas rancher, the orphaned wells have become both a mission and an existential threat.
The bill, which awaits a decision by Gov. Gavin Newsom, follows ProPublica’s reporting on the multibillion-dollar cost to clean up California’s oil and gas industry and the exodus of major companies shifting ownership of thousands of aging wells.