Oil and gas operations; establishing certain liability; requiring certain actions prior to transfer. Effective date.

SB 1418 requires oil and gas operators to provide full disclosure about well conditions and cleanup costs before transferring operations. It makes new owners (successors) jointly liable for all well-plugging and site-restoration costs unless they prove sufficient financial assurance to the Oklahoma Corporation Commission. The bill mandates due diligence by both transferring operators and successors, gives surface rights owners the right to request documentation and file petitions to challenge transfers, and prohibits retaliation against those who exercise these rights. These provisions aim to ensure cleanup responsibilities transfer with assets and protect landowners from environmental risks tied to poorly vetted ownership changes.