Environmental Restoration
Since its creation in 1993, the OERB has committed $69 million to restore more than 11,800 abandoned and orphaned well sites as part of its environmental restoration program. It has made restoration progress in 67 of Oklahoma's 77 counties and has a restoration budget of $6 million for the current fiscal year.
Unique is OERB's funding process – though it is funded by a 0.1% assessment on oil and gas sales (not uncommon among similar agencies), it is a voluntary assessment. Any producer or royalty owner may opt out of the program by requesting OERB (between January 1 and March 31 of each year) for a refund of previously paid assessments. OERB states that over 95% of participants remain in the program.
Read more about this topic: Oklahoma Energy Resources Board
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