| (1) The applicant must demonstrate financial responsibility
for corrective action, injection well plugging, post-injection storage
facility care and storage facility closure, and emergency and remedial
response until the director has provided to the operator a written
verification that the director has determined that the facility has
reached the end of the post-injection storage facility care period.
(2) In determining whether the applicant is financially
responsible, the director must rely on the following:
(A) the person's most recent audited annual report
filed with the U. S. Securities and Exchange Commission under Section
13 or 15(d), Securities Exchange Act of 1934 (15 U.S.C. Section 78m
or 78o(d)). The date of the audit may not be more than one year before
the date of submission of the application to the division; and
(B) the person's most recent quarterly report filed
with the U. S. Securities and Exchange Commission under Section 13
or 15(d), Securities Exchange Act of 1934 (15 U.S.C. Section 78m or
78o(d)); or
(C) if the person is not required to file such a report,
the person's most recent audited financial statement. The date of
the audit must not be more than one year before the date of submission
of the application to the division.
(o) Letter from the Groundwater Advisory Unit of the
Oil and Gas Division. The applicant must submit a letter from the
Groundwater Advisory Unit of the Oil and Gas Division in accordance
with Texas Water Code, §27.046.
(p) Other information. The applicant must submit any
other information requested by the director as necessary to discharge
the Commission's duties under Texas Water Code, Chapter 27, Subchapter
B-1, or deemed necessary by the director to clarify, explain, and
support the required attachments.
|
| Source Note: The provisions of this §5.203 adopted to be effective December 20, 2010, 35 TexReg 11202; amended to be effective July 2, 2012, 37 TexReg 4899; amended to be effective September 19, 2022, 47 TexReg 5797; amended to be effective September 11, 2023, 48 TexReg 5022 |
