A. If, after notice and hearing, the Corporation Commission finds that:

B. For the purpose of immediately responding to emergency situations within the Commission's jurisdiction having potentially critical environmental or public safety impact, the Commission may take whatever necessary action, without notice and hearing, including the expenditure of monies from the Corporation Commission Plugging Fund, to promptly respond to the emergency. Such emergency expenditure shall be made pursuant to the provisions of the Oklahoma Central Purchasing Act¹ upon such terms and conditions established by the Office of Management and Enterprise Services to accomplish the purposes of this section. Thereafter, the Commission shall seek reimbursement from the responsible person, firm or corporation for all expenditures made from the Corporation Commission Plugging Fund. Any monies received as reimbursement shall be deposited to the credit of the Corporation Commission Plugging Fund.

C. In the event that a well on the Commission's orphaned wells list has measurable methane, pursuant to the American Carbon Registry standards or pursuant to the standards of other carbon registries chosen by the Commission, the Commission may test and record the measurements of such emissions from the well pursuant to the requirements of the American Carbon Registry or pursuant to the standards of other carbon registries chosen by the Commission and obtain any carbon credits that may be available for the measured emissions. The Commission may use proceeds received from the sale of carbon credits, which shall be deposited into the Oil and Gas Division Revolving Fund, to offset the cost of administering the program and testing for methane. The Commission may hire an administrator to assist in facilitating the program. All funds remaining after testing, administration, and the cost to market and secure the credits value shall be placed in the Corporation Commission Plugging Fund. Nothing in this section shall prohibit the Commission from transferring an orphaned well, and all associated potential carbon credits, pursuant to the Commission's well transfer program. The Commission may promulgate rules as needed to effectuate the capture of emissions and obtaining of credits under this section.

D. If, at any time, the monies in the Corporation Commission Plugging Fund are insufficient to cover the cost of remedial action for all wells eligible for plugging, replugging or repair under this statute, the Commission shall prioritize expenditures according to degree of actual or potential environmental harm.