Wyoming’s Oil and Gas Conservation Commission (WOGCC) announced that OneNexus will operate the state’s inaugural oil and gas bonding pool, the first program of its kind backed by a state in the United States. The voluntary program offers qualifying Wyoming operators a new way to satisfy state and federal financial‑assurance requirements for well plugging, abandonment and reclamation without relying solely on traditional surety bonds, cash collateral or letters of credit.
State‑backed solution to a long‑standing challenge
Senate File 20, authored by the Legislature’s Joint Minerals, Business and Economic Development Committee, created the bonding pool and was signed into law by Governor Mark Gordon in 2025. The law directed the WOGCC to establish the pool and contract with a third‑party operator. After a competitive request‑for‑proposals process, OneNexus was selected to run the program through its WellSecure™ financial‑assurance platform.
“Wyoming is taking a new approach to one of the energy industry’s most persistent financial‑assurance challenges,” said Tony Sanchez, Founder and CEO of OneNexus. “This program gives operators a state‑backed, capital‑efficient way to meet their long‑term obligations without tying up capital in collateral or letters of credit.”
How the bonding pool works
Qualified operators in good standing with the WOGCC may elect to participate in the bonding pool instead of, or alongside, traditional bonding options. The pool is designed to keep plugging and reclamation obligations funded even if an operator defaults, reducing the risk of orphaned wells that would otherwise fall to the state.
Tom Kropatsch, State Oil and Gas Supervisor for the WOGCC, described the program as “a practical, Wyoming‑built solution” that expands the financial‑assurance options available to operators. Participation is voluntary, and the pool’s structure leverages industry taxes to provide a safety net while preserving operators’ capital for continued production.
Industry response
Pete Obermueller, President of the Petroleum Association of Wyoming, praised the initiative, noting that “Wyoming’s oil and gas operators are some of the best stewards of the land and resources in the state we love.” He added that the federal bonding model had become burdensome, and the new state‑backed pool offers a creative solution that allows small operators to remain viable while ensuring long‑term environmental responsibility.
OneNexus’ WellSecure™ product pairs a recognized surety instrument issued by Travelers Casualty and Surety Company of America (rated A++ by AM Best) with a regulated insurance structure supported by Munich Re regulatory capital. The arrangement provides a compliant, transferable and scalable solution for long‑duration decommissioning obligations.
Next steps for operators
Operators interested in joining the bonding pool can visit go.onenexus.com/paw or contact their surety broker or the Petroleum Association of Wyoming for more information. Detailed program rules and requirements are available from the WOGCC.
The creation of the bonding pool reflects Wyoming’s broader effort to balance responsible resource development with fiscal prudence, offering a model that other states may observe as they confront similar financial‑assurance challenges in the energy sector.
Original reporting: KTBS 3 (Shreveport) — read the source article.
