30 CFR 550, 556, and 560, Leasing of Sulfur or Oil and Gas in the Outer Continental Shelf
No material or nonsubstantive change to a currently approved collection
No
Regular
Approved without change
04/21/2025
02/27/2025
In accordance with 5 CFR 1320, this information collection is approved. This change is consistent with Executive Order 14173, âEnding Illegal Discrimination and Restoring Merit-Based Opportunity.â
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
07/31/2027
07/31/2027
07/31/2027
22,090
0
22,090
22,012
0
22,012
766,053
0
766,053
This information collection request is related to leasing of sulfur or oil and gas in the Outer Continental Shelf under 30 CFR 550, 556, and 560.
On January 21, 2025, President Trump signed Executive Order (EO) 14173, entitled âEnding Illegal Discrimination and Restoring Merit-Based Opportunity.â This EO revokes Executive Order 11246, entitled âEqual Employment Opportunity.â This information collection request is for nonsubstantive updates to forms BOEM-0150, Assignment of Record Title Interest in Federal OCS Oil and Gas Lease and BOEM-0151, Assignment of Operating Rights Interest in Federal OCS Oil and Gas Lease. BOEM is removing the language related to equal opportunity and affirmative action compliance from the forms.
Overall, this rule results in the following adjustments in hour burden, which leads to an overall increase of 77 annual burden hours:
Base Bonds and Supplemental Financial Assurance
The hours per response for all respondents (i.e., a lessee, grant holder, a co-lessee, and a co-grant holder) who show financial worth/ability to carry out present and future financial obligations as demonstrated by an issuer credit rating, or a proxy credit rating determined by BOEM based on audited financial information, remains at 3.5 hours as approved by OMB. The number of responses for the provisions related to §§ 550.160, 550.166, 550.1011, and 556.900-902 decreases to 160 respondents from 166 respondents due to program changes. The related existing and new provisions results in a decrease of 21 burden hours from 581 to 560 annual burden hours (3.5 hours x -6 hours = -21 annual burden hours)
BOEM adds paragraph (h) to § 556.901 to establish the limited opportunity to provide the required supplemental financial assurance demanded during the first 5 years after the effective date of this regulation in three installments. This provision establishes the timing and amounts of staggered supplemental financial assurance that would be demanded. This increases the number of submissions for the 5 payments required for supplemental financial assurance, but only for the first 5 years after the effective date of this regulation. OMB has approved 135 submissions which take 20 minutes per submission (total existing annual burden hours is 45 hours). BOEM estimates the burden hours to be 135 annual burden hours (405 submissions x 20 minutes), which is an increase of 90 hours over existing OMB approval. (+90 hours).
Third-party Guarantees
Section 556.905(b)(2) eliminates the requirement that, when a guarantor becomes unqualified, a lessee must cease production, until supplemental financial assurance coverage requirements are met. The regulatory provision is replaced with a requirement to immediately submit and maintain a substitute surety bond or other security. Both the existing and new provisions require the lessee to provide surety bond coverage; however, BOEMâs current OMB Control Number 1010-0006 does not quantify all of the burdens associated with either situation. Therefore, BOEM adds approximately 8 annual burden hours to OMB Control Number 1010-0006 for any lessee whose guarantor became unqualified (+8 hours).
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
30 CFR Part 556 - Subpart K