United States
Environmental Protection
Agency
EPA 570/^90-003
May 1990
&EPA
Federal Financial
Responsibility
Demonstrations for
Owners and
Operators of Class II
Oil- and Gas-Related
Injection Wells
U.S. Environmental Protection Agency
Region 5, Library (5PL-16)
230 S. Dearborn Street, Room 1670
Chicago, IL 60604
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Contents
Introduction 1
Who Should Read This Booklet? 3
Financial Responsibility Options 4
Demonstrating Financial Responsibility 4
Financial Responsibility Mechanisms 7
Financial Instruments ... 7
Surety Bonds 7
Letters of Credit 9
Standby Trust Funds 10
Trust Funds 10
Financial Statements 13
Financial Coverage Criteria 14
EPA Fiaandai Test 14
Bond Rating Alternative 14
Financial Rating Alternative 16
Preparing Your Submission 18
Choosing a Coverage Option 18
Choosing a Financial Mechanism 20
Financial Statements 22
Making Your Submission 23
AppendixA: Federally Administered UIC Programs 24
Appendix B: Regional EPA UIC Program Offices 25
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Introduction
The U.S. Environmental Protection Agency established
the Underground Injection Control (UIC) program
under the authority of the Safe Drinking Water Act of
1974. In States that have chosen not to administer the
program, EPA is required by the Act to implement it. As
part of this program, the owners or operators of Class II
injection wells associated with oil and gas production
must "maintain financial responsibility and resources to
close, plug, and abandon the underground injection
operation" (40 CFR Sections 144.28 (d) and 144.52 (a)
(7)) which are acceptable to EPA.
(The UIC program regulations are found in Parts 124,
144, 145,146, and 147 of Title 40 of the Code of Federal
Regulations and are available from the Regional EPA
offices. The regulations are usually cited as 40 CFR
Parts 124,144,145,146, and 147.)
In States where EPA administers the program, Class II
well owners or operators must satisfy the financial
responsibility requirement by submitting a financial
mechanism that meets the approval of the EPA Regional
Administrator or his designated UIC Program Director.
You may choose one of several mechanisms to show that
you maintain adequate financial resources to properly
close, plug and abandon an injection well. Options
include such financial instruments as surety bonds, trust
funds, and letters of credit, as well as financial state-
ments. Financial statement demonstrations must be
submitted annually, while the other mechanisms will be
updated at the UIC Program Director's discretion.
This booklet has been prepared by EPA to help Class II
injection well owners and operators in federally admini-
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stered States to comply with the UIC program's financial
responsibility demonstration requirements. It discusses:
• Financial responsibility options,
• Types of financial mechanisms,
• Selection of an option and financial mechanism,
and
• Submission requirements.
In addition, the booklet explains the criteria and guide-
lines EPA uses to evaluate the major types of financial
responsibility demonstrations that Class II well owners
and operators may make. EPA works closely with each
applicant to evaluate the financial demonstrations made
to the Agency. Surety associations and other financial
services organizations may also find this booklet helpful
in advising clients who own or operate Class II wells.
All the information contained in this booklet is offered
as guidance to well owners and operators. Readers will
note that financial mechanisms developed in response to
State oil and gas requirements may not be used to meet
federal financial demonstration requirements without
the express approval of the Regional Office in question.
Also, EPA requires that financial statement demonstra-
tions be made annually.
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Who Should
Read This
Booklet?
EPA Regional Map
The federal financial responsibility requirements broadly
apply to everyone who owns or operates injection wells of
any of the five classes in any State or U.S. territory. This
booklet, however, pertains only to the owners and
operators of Class II injection wells in States, territories,
and Indian lands where EPA administers the UIC
program. These programs are termed "Direct-Implem-
entation" programs. A list of Direct Implementation
States is presented in Appendix A. (The authority to run
a State program is called "Primacy." States that have
such authority are called "Primacy" States.)
When you apply for a new permit to construct and
operate wells, you must supply up-to-date information
isat shows you will have sufficient financial resources to
close, plog, and abandon your wells properly at the end
of tbeir uscroJ1 fife. Owners and operators of rale-
authorized wells are also required to meet this responsi-
bility. If you request that the permit or rule authoriza-
tion for an existing well(s) be transferred to you as a new
owner or operator, you must demonstrate your financial
responsibility by the date that the transfer becomes
effective. EPA has proposed amended regulations to
require advance notification of transfers and to hold the
original owner/operator liable until the new owner or
operator supplies an acceptable demonstration. If you
are unsure whether you must comply with these financial
requirements or with the UIC regulations, contact EPA's
office in the Region where your wells are located. Appen-
dix B lists EPA's Regional Offices, their addresses,
telephone numbers, and the States they cover.
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Financial
Resr
Options
There are several ways to meet the requirements to
demonstrate financial responsibility for well closure.
However, not every option may be open to every Class II
injection well owner or operator because of their individ-
ual circumstances. The various methods of demonstrat-
ing financial responsibility may be grouped into two
categories: financial instruments and financial state-
ments.
Financial instruments are agreements such as surety
bonds, letters of credit, and trust funds. They rely on a
third party such as a bank or surety company to guaran-
tee (1) that a specified amount of money will be available
to plug and abandon your wells when necessary or (2)
iJnat the actual job of closure will be accomplished.
Finaadal statement* provide data that demonstrate the
financial strength of a company and they require an
auditor's opinion for confirmation. The only acceptable
alternatives to the auditor's opinion would be documents
such as annual reports, Securities and Exchange Com-
mission (SEC) 10K Forms, and Federal Energy Regula-
tory Commission (FERC) Form 2.
The chart on page 5 shows how financial responsibility
demonstration options, coverage types, and financial
mechanisms or instruments are related.
Demonstrating
Financial
Responsibility
The simplest financial responsibility demonstration is a
financial instrument that guarantees funds sufficient to
cover the cost of properly closing, plugging, and aban-
doning each of your injection wells. This option is called
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UIC Financial Responsibility Demonstrations
Options
(Coverage
Classes)
Coverage
Types
Mechanisms
(Instrument*)
Financial Instrument
Financial Statement
Full
Coverage
Letter of Credit
+
Standby Trust
Fund
Financial
Guarantee
Bond
^; f-ur>d
Surety Bonds
Trust Fund
Financial j
Statement ,
Coverage j
Financial
Statement
+
Chief Financial
Officer's
Letter
•t-
One of the
Following:
• "Full" Auditor's
Opinion,
• "Glossy" Annual
Report,
• SEC 10K Report,
or
• FERC Form 2
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full coverage. If you submit an acceptable financial in-
strument that meets or exceeds the plugging cost
specified in the Plugging and Abandonment Plan (EPA
Form 7520-14) for all your wells and receive EPA's
approval, then you have adequately demonstrated
financial responsibility coverage.
Financial statement coverage is a second option which is
available only if you meet certain bond-rating criteria or
financial requirements described in the section that
begins on page 14. This option allows you to submit
financial statements and other information that show
you are likely to remain in operation, based on indica-
tors of the economic health of the organization, and that
you will be able to properly plug and abandon your wells.
EPA may, at the discretion of the Regional Program
Director, allow you to submit a financial instrument for
an amount that is less than the estimated cost of plug-
ging all your wells. This option is known as blanket
coverage. Your EPA Regional Office will determine how
much coverage you must provide; generally the amount
must be sufficient to plug an appropriate and acceptable
proportion of the total number of injection wells.
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Financial
Responsibility
Mechanisms
Financial
Instruments
The instruments which you may use to demonstrate your
financial responsibility are designed to ensure that funds
will be available to EPA to plug your injection wells if the
seed arises. EPA's requirements for each financial in-
strument are discussed below. EPA may fully or par-
tially release certain instruments as wells are plugged
and abandoned, or as acceptable substitute demonstra-
tions are made. EPA may require increases in the
amount of financial responsibility coverage to reflect
higher plugging and abandonment costs or the addition
of new wells. Sample forms of each instrument are avail-
able from the EPA Regional Offices.
Surety Bonds
A surety bond is a guarantee by a surety company that
specified obligations—such as plugging and abandoning
class n injection wells—will be fulfilled. You may use one
of two types of surety bond as a financial responsibility
demonstration. Both require the establishment of a
standby trust fund to receive, on the behalf of EPA, any
money that the surety company may pay. Standby trusts
are discussed on page 10.
A financial guarantee bond ensures that the surety
company, from which you obtain the bond, will fund a
standby trust in the amount the bond guarantees. Your
trustee, who is in charge of die standby trust, would, at
the direction of EPA, use the money to pay for proper
plugging of the well or wells covered by the bond.
An alternative to the financial guarantee bond is the
performance bond. This type of bond guarantees that, if
you fail to properly plug specified wells, the surety
company will either plug them for you or pay the amount
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of the bond into a standby trust so your trustee can hire
an EPA-approvcd contractor to do the job.
If you choose to use either type of surety bond to demon-
strate your financial responsibility, you must submit to
EPA both the bond and the standby trust agreement. In
addition, your surety bond, whether it is a financial
guarantee bond or a performance bond, must meet cer-
tain conditions. The bond must:
• Be issued by a surety company that has been
tested and approved under the U.S. Department
of the Treasury Circular 570. EPA Regional
Offices can give you a list of approved compa-
nies, or your insurance broker can advise you.
• Specify the wdls that the bond covers. If you
drill or acquire new wells, you must either post a
new bond or amend the existing demonstration.
• Guarantee that, if you fail to properly plug
specified wells, the surety company will pay the
amount of the bond into a standby trust fund
that names EPA as the beneficiary.
• Require that the bondholder give you and EPA
120-day notice before cancelling the bond.
• Provide for payment of the bond's face value
into the standby trust fund if you do not provide
a substitute demonstration of financial respon-
sibility to EPA within 90 days of a cancellation
notice.
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You may cancel a surety bond only if you have the EPA
Regional Administrator's or the UIC Program Director's
written consent. You may get that consent only after
providing a substitute financial instrument or after you
have properly plugged the wells covered by the surety
bond that you want to cancel.
Letters Of Credit A letter of credit guarantees that a set amount of money
will be available to a specified party under certain
conditions. If you use a letter of credit to demonstrate
financial responsibility, it must provide that funds will
be paid into a standby trust if you fail to plug your
injection wells properly. EPA requires that the actual
letters of credit be submitted as proof of financial
responsibility and that they:
• Be issued by a bank or other institution whose
operations are regulated and examined by a
State or federal agency. Most commercial banks
and some savings and loan institutions and
credit unions are the usual sources of this finan-
cial instrument.
• Require payment of funds into a standby trust
that names EPA as the beneficiary if you fail to
meet plugging requirements.
• Identify, by their number and project name, the
specific wells covered by the letter of credit.
• Require that the issuing institution give you and
EPA 120-day notice if it plans not to reissue the
letter of credit.
9
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• Provide that the EPA Regional Administrator or
UIC Program Director may draw upon the letter
of credit if you fail to provide a substitute
financial instrument within 90 days of the issu-
ing institution's non-renewal notice.
The letter of credit can be cancelled only with the written
consent of the EPA Regional Administrator or the UIC
Program Director.
Standby Trust
Funds
If you choose to use a surety bond or letter of credit to
demonstrate your financial responsibility, you must also
establish a standby trust fund. A standby trust fund
exists as a mechanism to receive on behalf of EPA the
funds guaranteed by your surety bond or letter of credit
if you do not plug your injection well(s) properly. It is
not a stand-alone financial instrument which you may
use to demonstrate financial responsibility; however, a
regular, funded trust fund is. EPA Regional Offices can
provide you with a sample form for a standby trust
agreement that is acceptable to the Agency.
Trust Funds
A third means of demonstrating your financial responsi-
bility is an irrevocable trust fund. Trust funds are re-
positories of money set aside for a specific purpose.
They are administered by a trustee, designated by the
grantor who establishes the trust. If you use a trust
fund, you will have to pay into it the full estimated cost
of properly plugging your wells.1 If the amount of money
in the trust fund exceeds the estimated cost of plugging
'Operatore who enter into Administrative Orders on Consent with
EPA may have the option of developing time-payment plans.
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the wells covered by the trust, you can ask the EPA
Regional Administrator or UIC Program Director to
release the fund's interest income to you. Ot'r*nvise,
income generated by the fund's investments k, *..,<•. ! so
the trust.
As the grantor, you must name a trustee whose responsi-
bilities will include:
• Investing, with your guidance and in accordance
with provisions of the trust and applicable legal
principles, the funds you deposit,
• Providing EPA with an annual valuation of the
fund, and
• Accepting additional deposits or releasing funds
as you drill new wetts or plug old ones with the
concurrence of EPA.
' • wells arc plugged, EPA may approve payments from
. to reimburse you for the cost of plugging, or the
, may delay payments until all the wells covered by
a trust are plugged and certified. The latter case is used
if it appears, when plugging starts, that the entire
operation may cost more than the trust fund contains.
EPA may also approve refunds if:
• The value of the trust fund exceeds the esti-
mated plugging costs,
• You substitute another financial instrument for
the trust fund, or
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• Funds remain in the trust after you have satis-
factorily plugged your wells.
There are about 4,000 banks nationwide—plus savings
and loan institutions, credit unions, and trust compa-
nies—qualified to manage trusts. The financial institu-
tion with which you normally deal should be able to help
you establish a trust fund for plugging, either serving as
your trustee or directing you to another institution that
can serve in that capacity. EPA has established stan-
dards for trust funds offered by Class II well owners and
operators as demonstrations of their financial responsi-
bility. These trusts must:
• Be established at a bank or other institution
with authority to act as a trustee and whose
trust activities are examined and regulated by a
State or federal agency,
• Contain funds equal to the estimated cost of
plugging the wells covered by the trust (except
when time-payment plans are authorized by EPA
under an Administrative Order),
• Designate EPA as the beneficiary,
• Specify the acceptable ways that the trustee can
invest the fund's money,
• Be accompanied by a "certificate of ac-
knowledgement," which provides a notarized
statement that attests that the trust was estab-
lished at the direction of your corporation's
Board of Directors or principal owners, and
12
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• Specify the conditions under which EPA may
authorize payments to meet plugging costs or to
return funds to you, the grantor.
The trustee you select to oversee the trust should be a
"neutral" party whose connections to you do not pose
any potential for a conflict of interest. The bank you
normally do business with is an example of a neutral
trustee. Although some States authorize attorneys to
serve as trustees, the attorney who represents you or
your firm could present a potential conflict of interest.
Consequently, your attorney would not be acceptable to
EPA as a trustee.
Financial You may not have to provide a financial instrument to
Statements demonstrate that you have sufficient resources to plug
your injection wells properly. If your company meets the
financial tests described in the next section of this book-
let, you can use a financial statement to show EPA that
you are likely to close, plug, and abandon your wells
according to regulations and your EPA-approved plug-
ging and abandonment plan.
The fmpnr»d statement demonstration is made in a form
provided by the EPA Regional Office. It includes the
form letter which your Chief Financial Officer (CFO) or
similar executive must provide certifying that your
company meets EPA's financial requirements to qualify
for mating a financial statement demonstration of
responsibility. The financial statement uses audited
information from your company's income statement and
balance sheet to calculate a number of financial ratios.
13
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Financial
Coverage
Criteria
EPA Financial Test
EPA uses the criteria presented in the table on the next
page to determine whether a Class II owner or operator
is likely to properly close, plug, and abandon injection
wells. If you meet EPA's criteria, you may use a financial
statement to demonstrate your financial responsibility.
If you do use the financial statement approach, these
criteria will be used to evaluate your annual updates of
financial statements. But if you fail to meet certain
criteria—for example, if you have a history of abandoning
wells without plugging them--EPA will require you to
submit a financial instrument for full coverage.
Bond Rating
Alternative
EPA uses a two-part test to identify financially healthy
companies that own or operate Class II injection wells.
Passing either part of the test—and meeting the other
criteria presented in the table on page L5—may allow
your company to use a financial statement demonstrat-
ing responsibility. However, if your company fails the fi-
nancial test, you must submit to EPA an alternative fi-
nancial instrument.
If your company has issued bonds to raise capital, your
bond rating may be high enough to pass EPA's financial
test. In order to pass, your most recent bond rating
should be within the four highest categories of Standard
and Poor's (AAA, AA, A, or BB) or Moody's (Aaa, Aa, A,
or Baa). If you pass on the bond rating, and you decide
to use a financial statement to demonstrate financial
responsibility, you must submit annually to EPA a
statement of your operation's Standard and Poor's or
Moody's bond rating using the model format of the Chief
Financial Officer's letter.
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Financial Coverage Criteria
Criterion Explanation
Remaining economic fife of
production fields or leases
Number of years In
business
Number of production
fields
Number of Weils'*
Estimated Cost of Well
Plugging
Financial condition
wTtti a^kabte regulations h the past?
If so, EPA believes you are Ifcely to do
so In the futures -•' -. * "'••"
Are you producing from at least one
field or do have at least one lease in
the state or territory with an estimated
remaining economic life of at least 5
years? If so, EPA feels you are likely to
remain in business until the Agency
conducts Its periodic reviews.
nes3atleast5years?4YourflnanciaJ
performance wtt have more signifi-
cance Jf the answer teyesr*
Are you producing from more than one
field in a state or territory? If you are,
then you are less likely to deplete all
your resources at the same time. Con-
sequently, you am more likely to be tn
business when EPA conducts its
periodic reviews.
Hew many Inlectkxi wills and produc-
tion wells are you operating? This will
Influenceyour cndce of toveraga
Estimate costs which should corre-
spond to charges submitted to EPA on
the plugging and abandonment plan.
-, Can your company pass the financial
ratks tests in in this section? If your
f ; smpany'6 financial position Is strong,
you arernore likely to be abJe to plug
your wels properly hi the future.
15
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The second half of EPA's financial test is a set of five
financial ratios, coupled with a requirement for a
minimum net worth of SI million. To determine whether
your company passes this test, you must use data that
are verifiable from your annual financial statement and
apply them to the formulas presented in the table on
page 17.
Financial Ratio If you choose to use financial ratio information to prove
Alternative your company qualifies for financial statement coverage,
your Chief Financial Officer (CFO)—or another legally
authorized person—must send the EPA Program Direc-
tor a letter that shows your company passes EPA's
financial tests. In addition, you must verify to EPA that
the information contained in the CFO's letter is accu-
rate. You can do this by providing either:
• A full auditor's opinion from an independent
certified public accounting firm that verifies the
accuracy of the financial data used in the letter,
• A "Glossy" financial statement such as those
routinely prepared as reports to stockholders,
• A 10K Report, which is submitted annually to
the Securities and Exchange Commission, or
• A Federal Energy Regulatory Commission
(FERC) Form 2 report
Although there are many types of auditor's analysis of
financial data, EPA will accept only a full auditor's
opinion as confirmation of the accuracy of financial
information showing that a company passes this test.
16
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EPA Financial Test
Type of Ratio
1) Debt-Equity
Ratio
Formula
Current Uabfllttes
Net Worth
fe and have a
Threshold
< 1.0
2) Debt-Equity
Ratio
3) Liquidity
Long Term Liabilities < 2.0
Net Worth
Current Assets^ Current Uabflttfes > -0.10
, Total Assets? • ,„'.,
4) Cash Return
on Liabilities
Net Income + Depreciation
+ Depletion + Amortization
Total Liabilities
> 0.10
5) Net Profit
>0
Glossy annual reports, SEC 10K reports and FERC
Form 2 reports are based on full-scale audits. Conse-
quently, EPA considers them the functional equivalent of
an auditor's opinion.
A company that is a subsidiary of a large corporation
can submit its parent company's financial statements if
the company guarantees to pay to plug its subsidiary's
wells. The parent corporation must own at least 50
percent of the subsidiary's voting stock; it will be bound
to its guarantee until released by EPA. Such guarantees
typically are made in writing to the EPA Program
Director by a corporate officer who is authorized to
legally bind the parent corporation.
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. „ Your
Submission
The procedure you will follow to make your demonstra-
tion depends on the financial responsibility mechanism
you select. Therefore, you should:
• Estimate the amount of your total plugging
liability. It is important to note that these esti-
mates are to be based on contracted costs for
plugging and abandonment operations by third
parties, not on "in-house" cost estimates. The
estimates should be based on a "turn-key"
plugging operation, including ali related costs of
these procedures.
• Select the financial mechanism and correspond-
ing financial coverage best suited to your
operation.
• Obtain and submit the appropriate information
and financial mechanism.
Choosing a
Coverage Option
Your first step is determining the financial coverage
options for which you believe you can qualify. If you
cannot submit the information necessary to verify your
qualification, EPA may ask you to choose another
option.
Once you have chosen a financial coverage option, you
must select a corresponding financial responsibility
mechanism. At this point, yoinnay want to review the
various mechanisms available to you and consult with
various providers of financial instruments such as banks
and surety companies.
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Choosing A Coverage Option
Demonstration of Financial ftesponsJba&fTdbe eOgiblo to use
either the FJnanc^ Statement or Bk^^Covensge, you must meet
the following requirements as indicated.*.
Requirement
History erf PSugging
Wells
At Least 1 Field With
Minimum of 5 Years of
Economic Life Left
Minimum of 5 Years in
Business
Mote than 1 Produc-
tion FieW
Type of Coverage
Fu«
Minimum Number of
lnjectior Y*--
Est/maraa Gosi or
Plugging
Financial Statements
Financial Instruments
X
X
Financial
Statement1
X
X
X
X
X
x2
Blanket
X
X
X
X
X
X
x2
X
cWttatomwtt* *w tubmBted annually.
2Companl9» hi bu&lnw tew than AvyMM^ormAoM Mf worth to last than $1 million,
19
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You May Use Financial Statement Coverage If
Your Company...
• Has a history of adequately plugging wells,
•Has at least 1 field or lease with an«stimated economic Iffe of at
leasts years, ;
• Has been in business at least 5 years and has 2 or more production
fields or leases, and
• Passes EPA's financial ratio or bond rating tests;
Choosing a
Financial
Mechanism
The following points are important to keep in mind as
you consider your options:
• If you opt for a full coverage demonstration, the
value of the financial mechanism you select
should meet or exceed the estimated cost of
plugging the weli(s) given in your EPA-approved
Plugging and Abandonment Plan (EPA Form
7520-14).
• The EPA Program Director may allow blanket
coverage.
• If you choose to make a financial statement
demonstration, you must prove to EPA with
appropriate documentation that you meet the
financial ratio tests and threshold limits de-
scribed in the previous section.
Any Class II injection well owner or operator may
submit a full coverage instrument to demonstrate
financial responsibility. The table on the next page
explains what criteria you must meet if you want to
choose the blanket coverage option instead.
If you decide to make a financial instrument demonstra-
tion, you must consider and consult with EPA whether to
provide full or blanket coverage. You must also select
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You May Be Authorized To Use Blanket Coverage
By The UIC Program Director Upon His Review
Of The Following Criteria:
• Your company has a history of adequately plugging wells,
•Your company has at least 1 field or lease wfth an estimated eco-
nomic We o> a Jeast five years,
• Your company nas been in business at least 5 years, and
• Your company operates more than 10 Injection weJIs.
the financial instrument that is right for your company.
Cost is likely to be a prime consideration.
Various financial institutions can help you identify the
most cost-effective instrument. Your insurance agent
should have information about surety bonds including
their availability, cost, and collateral requirements, if
any.2 Banks, savings and loans, and similar institutions
can tell you about letters of credit and trust funds.
The cost of financial instruments has various compo-
nents. As you evaluate different instruments, you should
keep ia mind these cost elements: Fees or premiums,
collateral requirements, tax consequences, possible ef-
fects on your credit rating, and opportunity cost. Op-
portunity cost is the income you lose by tying up funds in
a financial demonstration to EPA, rather than investing
them in ways that would bring a higher return.
The fees or premiums for surety bonds, trust funds, or
letters of credit will vary from one institution to the next.
Bonds or letters of credit usually carry fees based on a
percentage of their guaranteed amount. Trust fund
premiums can be either fixed fees or a percentage of the
funds managed by the trustee.
2Since EPA cannot liquidate property such as equipment to secure
cash, "collateral bonds" are not accepted.
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Your company's individual characteristics may also affect
how much different financial instruments will cost.
Financial institutions often consider a company's
financial condition, size, and history in pricing out costs
of various demonstrations.
Financial
Statements
Financial statement demonstrations may be the least
expensive demonstration for companies that qualify to
use them. They are not, however, without cost. If you
choose to use financial statements, keep in mind that you
may incur annual costs as you collect and package data
for submission to EPA.
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Making Your
Submission
Once you have selected a financial coverage option and a
financial demonstration mechanism, you must gather the
necessary information and documents and submit them
to EPA. This step may require you to obtain a bond
from a surety agent, request financial statement infor-
mation from your accounting department, or obtain a
letter of credit and standby trust agreement from a bank.
Your EPA Regional Office can give you model forms and
sample documents for the information you are required
to submit. The EPA Regional Office will not begin evalu-
ating your submission until all the necessary certifica-
tions and representations are received. If you submitted
items and information that meet the Agency's criteria
and received EPA's approval, then you have met your
obligation to demonstrate financial responsibility.
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Appendix A
Federally Administrated Class II
Underground Injection Control Programs
EPA Region I
None
EPA Region VI
Osage Mineral Reserve, Okla-
homa
EPA Region II
New York
EPA Region VII
None
EPA Region III
Pennsylvania
EPA Region VIII
Montana
EPA Region IV
Florida
Kentucky
Tennessee
EPA Region IX
None
EPA Region V
'A * !>
Indiana
Michigan
EPA Region X
None
Note: Operators on Indian lands should check with the appropri-
ate EPA Regional Office.
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