The regulatory amendments in this rulemaking are anticipated to enhance the overall total of economic assurance required from OCS lessees and grant holders. Individuals lessees that don't fulfill the updated standards to stay away from supplying economical assurance will notice an increased compliance Value in the form of bonding premiums. BOEM has drafted a Regulatory Impact Examination (RIA) detailing the approximated impacts on the respective provisions of the final rule and has provided it in the docket.
Within the June 29, 2023, NPRM, the Section proposed adjustments towards the RUE economical assurance demands to explain the fiscal assurance necessity for RUEs serving Federal leases, which isn't explicitly tackled in the existing restrictions.
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Commenters recommended that BOEM explain to the uses of aspect 550 that “transfer” in each the new expression and in the definition of “Assign” need to be outlined to exclude informal transfers. Samples of casual transfers have been company name variations that are not technically a conveyance of an interest to a fresh entity. They delivered recommended regulatory text edits as follows: “Transfer signifies to Express an ownership desire in an oil, gas, or sulfur lease, ROW grant or RUE grant.
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