Risk Management and Financial Assurance for OCS Lease and Grant Obligations

This proposed rule would rescind BOEM's final rule "Risk Management and Financial Assurance for OCS Lease and Grant Obligations." The proposed rule would revise the criteria for determining whether oil, gas, and sulfur lessees, right-of-use and easement grant holders, and pipeline right-of-way grant holders are required to provide financial assurance above the current minimum bonding levels to ensure compliance with their Outer Continental Shelf (OCS) Lands Act obligations. This rule, if finalized, would reduce the amount of supplemental financial assurance required from oil gas, and sulfur lessees operating on the OCS and would support the goals of EO 14154.