82-11-162. Release of producing oil or gas well from drilling bond -- fee. Upon receipt of notification by the owner on a form prescribed by the board, payment by the owner of $125, and proof from the owner that a well completed after June 30, 1989, is producing oil or gas in commercial quantities and is subject to the tax under Title 15, chapter 36, part 3, the board shall release the owner of the well from the bond required under 82-11-123.

     History: En. Sec. 7, Ch. 530, L. 1989; amd. Sec. 49, Ch. 451, L. 1995.