30 CFR 550, 556, and 560,
Leasing of Sulfur or Oil and Gas in the Outer Continental
Shelf
Revision of a currently approved collection
No
Regular
03/10/2026
Requested
Previously Approved
36 Months From Approved
07/31/2027
22,112
22,090
22,033
22,012
766,053
766,053
The Department of the Interior, acting
through the Bureau of Ocean Energy Management (BOEM), is amending
its risk management and financial assurance regulations. The major
proposed amendments in this rule include: (1) returning to the
previous BOEM practice of considering the financial strength of
jointly liable predecessor lessees; (2) revising the credit rating
threshold for determining whether oil, gas, and sulfur lessees,
right-of-use and easement grant holders, and pipeline right-of-way
grant holders on the OCS are required to provide supplemental
financial assurance above the required general financial assurance
amount to ensure compliance with their Outer Continental Shelf
Lands Act obligations; (3) revising the decommissioning estimate
used to determine the amount of supplemental financial assurance
required; and (4) revising the appeals bond provision related to
the Interior Board of Land Appeals appeal procedures. This rule
would reduce the amount of supplemental financial assurance
required from oil, gas, and sulfur lessees operating on the
OCS.
US Code:
43 USC 1331 and 1801 Name of Law: Outer Continental Shelf Lands
Act
US Code: 31
USC 9701 Name of Law: Independent Offices Appropriations
Act
US Code: 42
USC 6213(C) Name of Law: Energy Policy and Conservation Act
Overall, this rule results in
the following adjustments in hour burden, which leads to an overall
increase of 21 annual burden hours: •The Department is proposing to
add a new paragraph (i) in section 556.901 to allow an lessee to
provide a proposed installment schedule for supplemental financial
assurance prior to the receipt of an official demand letter. BOEM
is adding additional burden for the submission of this installment
schedule. BOEM estimates an increase of 20 annual burden hours (20
responses x 1 hour burden). •The Department is proposing a new
section 556.908 to address instances where decommissioning will
occur within one year of a new supplemental financial assurance
demand, which would allow the Regional Director the discretion to
accept third-party decommissioning contracts and/or decommissioning
schedules from those entities in lieu of supplemental financial
assurance. This is a new provision that may slightly increase
annual burden hours. BOEM estimates an increase of 1 annual burden
hours (2 responses x ½ hour burden).
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.
03/10/2026
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