The final rule amends existing regulations and increases the level of financial assurances that operators must provide in advance.
The Interior Department’s rule raises royalty rates for oil drilling by more than one-third, to 16.67%. The previous rate of 12.5% had remained unchanged for a century.
This paper discusses and evaluates retrofitting abandoned petroleum wells for geothermal applications as a commonly proposed solution to meet the challenge of the capital expenditure required for drilling and completion.

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