form 1006c – letter of credit

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FORM 1006C – LETTER OF
CREDIT
FORM 1006C – LETTER OF
CREDIT
This presentation will assist you in the
completion of the Form 1006C. The
letter of credit.
Date of Last Revision: 2011
Rule Requirement: OAC 165:10-1-13
Explanation of Form: Prior to drilling
and/or operating a well, the operator
shall furnish the Conservation Division
an irrevocable commercial letter of
credit ($25,000.00) or other present
alternate surety, Form 1006A or 1006.
Operator must file the original copy
with the bank seal affixed. A letter of
credit must be valid for at least a one
year period. [Reference 165:10-1-10
and 165:10-1-13]
Question concerning this Form:
Contact the Surety Department (405)
521-2246
FORM 1006C – LETTER OF
CREDIT
LETTER OF CREDIT NUMBER: This will
be assigned by the Finanical Institution
FORM 1006C – LETTER OF
CREDIT
OTC/OCC OPERATOR NUMBER: This
number is assigned by the Surety
Department for new operators
FORM 1006C – LETTER OF
CREDIT
TODAY’S DATE
FORM 1006C – LETTER OF
CREDIT
NAME OF THE BANK
FORM 1006C – LETTER OF
CREDIT
ADDRESS: If the mailing address is a
PO Box, a physical address MUST be
provided also.
FORM 1006C – LETTER OF
CREDIT
PHONE AND FAX NUMBERS FOR THE
BANK
FORM 1006C – LETTER OF
CREDIT
CONTACT PERSON
FORM 1006C – LETTER OF
CREDIT
E-MAIL ADDRESS
FORM 1006C – LETTER OF
CREDIT
NAME OF THE OPERATOR
FORM 1006C – LETTER OF
CREDIT
ADDRESS: If the mailing address is a
PO Box, a physical address MUST be
provided also.
FORM 1006C – LETTER OF
CREDIT
PHONE AND FAX NUMBERS FOR THE
BANK
FORM 1006C – LETTER OF
CREDIT
CONTACT PERSON
FORM 1006C – LETTER OF
CREDIT
E-MAIL ADDRESS
FORM 1006C – LETTER OF
CREDIT
THE AMOUNT OF THE LETTER OF
CREDIT (NOT TO EXCEED $25,000)
UNLESS ORDERED BY THE COURT
FORM 1006C – LETTER OF
CREDIT
DATE THAT LETTER OF CREDIT
AUTOMATICALLY RENEWS ON
FORM 1006C – LETTER OF
CREDIT
THE TOTAL AMOUNT OF VALUE OF THE
LETTER OF CREDIT ($25,000 IS
BLANKET COVERAGE)
FORM 1006C – LETTER OF
CREDIT
FINANCIAL INSTITUTION’S SIGNATURE
BLOCK
FORM 1006C – LETTER OF
CREDIT
ALL OPERATORS AND FINANCIAL
INSTITUTIONS BE SURE TO READ PRIOR
TO EXCECUTING THIS AGREEMENT
FORM 1006C – LETTER OF
CREDIT
IF THE LETTER OF CREDIT IS LESS THAN
$25,000 THEN ATTACH A COPY OF THE
FORM 1006D WITH THE LETTER OF
CREDIT
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