Wyoming Selects OneNexus to Operate Nation's First State-Backed Oil and Gas Bonding Pool

Voluntary program gives Wyoming operators a state-backed, capital-efficient alternative to traditional surety bonds, cash collateral and letters of credit for well-plugging and reclamation obligations.

HOUSTON, Aug. 19, 2026 /PRNewswire/ -- OneNexus has been selected by the Wyoming Oil and Gas Conservation Commission (WOGCC) to operate Wyoming's new oil and gas bonding pool, the first state-backed program of its kind in the nation.

The program gives qualifying Wyoming oil and gas operators a new option for meeting state and federal financial assurance requirements for well plugging and abandonment (P&A) and reclamation in Wyoming without relying exclusively on traditional surety bonds, cash collateral or letters of credit. OneNexus will operate 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 & 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. We believe Wyoming has created a model that other states will watch closely."

Senate File 20, sponsored by the Legislature's Joint Minerals, Business and Economic Development Committee, authorized the bonding pool and was signed into law by Gov. Mark Gordon in 2025. The legislation directed the Wyoming Oil and Gas Conservation Commission to establish the pool and contract with a third party to operate it. OneNexus was selected through the Commission's competitive request-for-proposals process.

"This program expands the financial assurance options available to Wyoming operators for meeting their plugging and reclamation obligations," said Tom Kropatsch, State Oil and Gas Supervisor for WOGCC. "It is a practical, Wyoming-built solution."

Participation in the program is voluntary. Operators in good standing with the Commission may elect to participate in the bonding pool instead of, or alongside, traditional bonding options. The bonding pool is designed to keep plugging and reclamation obligations funded if an operator defaults, reducing the risk that wells become orphaned and fall to the state.

"Wyoming's oil and gas operators are some of the best stewards of the land and resources in the state we love, because we live and work here," said Pete Obermueller, President of the Petroleum Association of Wyoming (PAW). "Unfortunately, the federal bonding model has outlived its usefulness, and heavy-handed requirements from Washington, D.C. were forcing Wyoming's small operators to question whether they could stay in business. Wyoming's legislature, Governor, and regulators stepped up with a creative solution — using industry taxes to create a first-in-the-nation bonding pool that allows operators to keep working and plan for the future, knowing that the state has their back. I'm proud of Wyoming's commitment to sustainable production of oil and natural gas."

Program Information

Eligible Wyoming operators interested in participating in the bonding pool or learning more about program requirements can visit go.onenexus.com/paw or contact their surety broker or the Petroleum Association of Wyoming. Program rules and requirements are available from the WOGCC.

About OneNexus

OneNexus, LLC is a financial assurance platform built for energy operators facing growing decommissioning liabilities. Its flagship product, WellSecure™, delivers an asset-based surety solution that eliminates collateral and letter-of-credit requirements, freeing trapped capital while providing long-term funding certainty. Surety bonds under the WellSecure™ program are issued by Travelers Casualty and Surety Company of America, rated A++ (Superior) by AM Best. By pairing a recognized surety instrument with a regulated insurance structure supported by Munich Re regulatory capital, WellSecure™ gives operators a compliant, transferable, and scalable solution for long-duration decommissioning obligations. Learn more at onenexus.com.

SOURCE OneNexus