State Board Considers Raising Bonding Requirements

A state board is weighing whether to raise bonding requirements for natural gas and oil drillers. The Rapid City Journal reports the Board of Minerals and Environment is considering the increase as the state pursues a $15.5 million lawsuit against a Texas-based company for abandoning gas wells in western South Dakota.

Spyglass Cedar Creek drilled 40 natural gas wells near Buffalo then abandoned them after natural gas prices plummeted.

About Swier Law Firm's Business & Corporate Practice Group

Swier Law Firm's Business & Corporate Practice Group handles the following types of cases:

Cyber Law and Cyber Security
Limited Liability Companies (LLCs)
General Partnerships and Limited Liability Partnerships
Joint Ventures and Strategic Alliances
C Corporations and S Corporations
Trademarks and Copyrights
Real Estate
Wind Energy Transactions
Corporate Governance
Corporate Dissolution
Conducting Internal Investigations for Boards, Board Committees and General Counsel
Preparing, Revising and Updating Governance and Compliance Materials, including Bylaws,
Committee Charters, and Compliance Policies.

To learn more about business and corporate legal issues in South Dakota, contact Swier Law Firm.