Energy Industry Bonds
Oil – Gas – Coal Reclamation
Why use Unique Surety as your agent for your next energy bond?
The team at Unique Surety can handle delivering to you the correctly worded bond with the limits you are required to have at a competitive price. We are the professionals who have the personal relationships with the top-rated carriers and their underwriters who trust our judgment and thoroughness who know we will not waste anyone’s precious time.
As America nears energy independence using fossil fuels, alternative sources and emerging energy technology, Unique Surety represents several carriers to handle any bonding challenge quickly and professionally.
Unique Surety provides surety bonds for the three major sectors of oil, gas and coal. Upstream, midstream and downstream each require various types of bonding. In the exploration and production sector bonds are provided for opening, abandonment, reclamation and more. We focus on providing you with generous bond limits at a competitive rate and reduced or no requirements for any collateral. Understanding the industry gives us the “Unique” ability to help you execute now and not miss an opportunity. As you become a client of Unique Surety after purchasing your first bond, we help you plan for your future needs, by working with you, your estimators, finance department, legal representatives and if necessary your auditors to provide insight on what is necessary to build your company with more and larger bonded work and grow your bonded capacity as we lower your rates.
In the midstream sector of transportation, storage and wholesale marketing, we provide a variety of bonds for contract supply, contract performance for construction, repair or renovation; or any bonding requirement for pipelines, rail, barge, oil tankers or trucks including license and permit bonds.
We can bond the terms of your contract or satisfy local, state or federal requirements where bonds are required in moving oil from production sites to refineries, delivering refined products to downstream customers such as wholesalers, retailers or local utilities or a variety of industrial uses.
Natural gas pipeline networks consolidate product from natural gas purification plants and provide product to downstream customers. Fracking has revolutionized the natural gas industry providing abundant domestic supply. Increasingly surety performance bonds are being required to indemnify various contractual roles in this portion of the industry. Unique Surety is ready to provide the required bonding limits so that you do not miss a valuable opportunity.
ALTERNATIVE ENERGY SOURCES & EMERGING ENERGY TECHNOLOGY
Ocean, wind, solar power, hydro-electric and geothermal are all alternative sources to fossil fuels in producing energy. Government and private industry are often requiring some type of surety bond as a prerequisite requirement to license, operate or to obtain a contract to perform a service or to deliver a supply of the product.
Emerging energy technology is taking some old concepts and through innovation is creating new and better uses. Waste to energy has many components and varieties from harnessing methane in landfills to running turbines producing electric by burning garbage to create heat that turns water to steam and fuels the turbines. Host industries and Countries welcome this technology and require a surety bond to guaranty the performance of manufacturing the equipment to the contractual standard and therefore assuring the proper installation and proof of function and maintenance.
Traditional solar cells are being replaced by films that can be placed over glass transparently yet absorb energy, even in cloudy weather on venues from homes to high rises and industrial parks. The energy is stored in battery configurations of a variety of choices. The storage batteries can be called upon to provide electric for residential and commercial buildings and manufacturing facilities in any weather and for extended periods of time.
Hydrogen can run automobiles and trucks from cells that can be refueled at a “gas station” in the same time period as using petroleum. The by-product is water and eliminates air and ground pollution. Japanese car companies have been the leaders in distributing these vehicles to government and private companies and expect it to grow in vehicle market share over the next ten years.
Fly wheel technology is being used to create perpetual energy. Natural gas is being turned into a gasoline product to be used in existing cars and trucks. Electric cars are being perfected with extended range and may become the residential home power station of the future when used with solar film battery storage. The manufacture, installation and maintenance of these products often involve a legal contract requiring a surety bond to guarantee performance.
This is only the beginning in the development of innovative energy technology which over a short time period provides lower cost and cleaner energy choices to power our future. Surety bonds in many cases help raise funds, protect end users from open ended risks and help secure the performance of contractual promises made between the innovators, financial institution, government and private enterprise and the real beneficiary of this emerging technology is the general public.
For information on obtaining Energy Industry Bonds, please call us at 800-321-1007, or click here to contact us.