(a) An operator who, on or after January 1, 2018, engages in the drilling, redrilling, deepening, or in any operation permanently altering the casing, of a well, shall file with the supervisor an individual indemnity bond for each well so drilled, redrilled, deepened, or permanently altered in the following amount:

1. (1) Twenty-five thousand dollars ($25,000) for each well that is less than 10,000 feet deep.
2. (2) Forty thousand dollars ($40,000) for each well that is 10,000 or more feet deep.