(1) Before the Oil and Gas Commission issues a permit to drill, an operator who is doing business in this state and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.
(2) Before the commission transfers a well and issues a producer's certificate of compliance and authorization to transport oil or gas, a person who acquires the right of an operator of an existing well and is not subject to the provisions of § 15-71-116 shall file proof of financial responsibility with the commission.