Oil and gas bonds are license/permit surety bonds. Oil and Gas Bonds are required by governing entities to ensure different aspects of operating and closing oil or gas wells are managed and/or completed in accordance to governing laws and regulations.
Some of the Oil and Gas well activities that have been scrutinized for compliance with applicable laws and regulations are as follows:
Bond amounts vary depending on the governing entity requiring the Bond. A bond may be required for each well although some states allow for a single bond to cover multiple locations.
Oil and gas bonds can be difficult to place. Viking has markets that work with these types of bonds nationwide. We can typically obtain a quote for these bonds the same day or within 24 hours of receiving the surety bond application and any required documentation.
Need a Bond? Here's how to get one. Read here for information about the bonding process.