(a) The owner or operator must prepare a written estimate, in current dollars, of the cost of:
  (1) plugging the well(s) in accordance with the plugging and abandonment plan as specified in this chapter; and
  (2) aquifer restoration for each production area authorization.
(b) Cost Estimates.
  (1) The cost estimates required under subsection (a)(1) of this section must take into account all costs related to plugging and abandonment in accordance with the applicable requirements of §331.46 of this title (relating Closure Standards) and the requirements of §331.86 of this title (relating to Closure).
  (2) The cost estimate required under subsection (a)(2) of this section must take into account all costs related to aquifer restoration.
(c) During the operating life of the facility, the owner or operator must keep at the facility the latest cost estimates for plugging and abandonment and for aquifer restoration prepared in accordance with subsection (a) of this section.
(d) On or before December 31st of each year, the owner or operator shall review and update as necessary the written estimate of the cost of plugging all wells and the cost of aquifer restoration to account for changes in costs exclusive of the inflation adjustment required under §37.131 of this title (relating to Annual Inflation Adjustments to Closure Cost Estimates). This update shall be submitted to the executive director no later than January 31st of each year.

Source Note: The provisions of this §331.143 adopted to be effective October 16, 1992, 17 TexReg 6780; amended to be effective January 2, 1995, 19 TexReg 10099; amended to be effective March 21, 2000, 25 TexReg 2385; amended to be effective March 12, 2009, 34 TexReg 1638