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BOEM Proposed Rule: OCS Lease Financial Assurance

The Department of the Interior, through BOEM, is proposing to amend its risk management and financial assurance regulations for Outer Continental Shelf (OCS) oil, gas, and sulfur lessees. The proposed changes aim to reduce the financial burden on the regulated community by approximately $6.2 billion, supporting energy exploration and production goals.

NEPA Categorical Exclusion for Financial Assurances Rule

The Bureau of Ocean Energy Management (BOEM) has issued a final rule establishing a categorical exclusion under the National Environmental Policy Act (NEPA) for financial assurance requirements. This rule aims to streamline the review process for certain financial assurance mechanisms related to offshore energy activities.