Every person, firm or corporation securing a permit under the provisions of this chapter for the drilling and operating of any well or wells, shall pay to the owner or owners of any buildings, improvements, goods or chattels so located that the insurance rates or premium have been increased by reason of maintaining or operating of such well or wells any extra cost of fire insurance on such property caused by the operations carried on under and by virtue of any such permit, and shall pay also, any and all damages suffered by any person as to property within the city from fire, over and above insurance collected thereon, or damages from oil, gas or water caused by originating from the operation connected with such well or wells. (Prior code § 28-1-7)