{"abstract":"The Department of the Interior (the Department or DOI), acting through the Bureau of Ocean Energy Management (BOEM), is amending its risk management and financial assurance regulations. This final rule revises criteria for determining whether oil, gas, and sulfur lessees, right-of-use and easement (RUE) grant holders, and pipeline right-of- way (ROW) grant holders are required to provide financial assurance above the current minimum bonding levels to ensure compliance with their Outer Continental Shelf Lands Act (OCSLA) obligations. This final rule streamlines the criteria for evaluating the financial health of lessees and grantees, codifies the use of the Bureau of Safety and Environmental Enforcement's (BSEE) probabilistic estimates of decommissioning costs in setting the level of demands for supplemental financial assurance, removes restrictive provisions for third-party guarantees and decommissioning accounts, adds new criteria for cancelling supplemental financial assurance, and clarifies bonding requirements for RUEs serving Federal leases. BOEM estimates that a total of $6.9 billion in new supplemental financial assurance will be required from lessees and grant holders under this final rule to cover potential costs of decommissioning activities. This final rule significantly increases the amount of financial assurance available to the U.S. Government in the case of a lessee default and meaningfully reduces the risk to the government and consequently to the U.S. taxpayer. This final rulemaking does not apply to renewable energy activities.","action":"Final rule.","agencies":[{"raw_name":"DEPARTMENT OF THE INTERIOR","name":"Interior Department","id":253,"url":"https://www.federalregister.gov/agencies/interior-department","json_url":"https://www.federalregister.gov/api/v1/agencies/253","parent_id":null,"slug":"interior-department"},{"raw_name":"Bureau of Ocean Energy Management","name":"Ocean Energy Management Bureau","id":575,"url":"https://www.federalregister.gov/agencies/ocean-energy-management-bureau","json_url":"https://www.federalregister.gov/api/v1/agencies/575","parent_id":253,"slug":"ocean-energy-management-bureau"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2024/04/24/2024-08309.html","cfr_references":[{"chapter":null,"citation_url":null,"part":"550","title":30},{"chapter":null,"citation_url":null,"part":"556","title":30},{"chapter":null,"citation_url":null,"part":"590","title":30}],"citation":"89 FR 31544","comment_url":null,"comments_close_on":"2024-05-24","correction_of":null,"corrections":[],"dates":"This final rule is effective on June 24, 2024. You may make comments on the information collection (IC) burden in this rulemaking and the Office of Management and Budget (OMB) and BOEM must receive such comments on or before May 24, 2024. The IC burden comment opportunity does not affect the final rule effective date.","disposition_notes":null,"docket_ids":["Docket No. BOEM-2023-0027"],"dockets":[{"supporting_documents":[{"title":"Response to Public Comments Received on the June 29, 2023, Notice of Proposed Rulemaking","document_id":"BOEM-2023-0027-2187"},{"title":"EO 12866: Murphy Oil Listening Session","document_id":"BOEM-2023-0027-2183"},{"title":"EO 12866: Opportune Listening Session","document_id":"BOEM-2023-0027-2182"},{"title":"EO 12866: API Listening Session","document_id":"BOEM-2023-0027-2177"},{"title":"Tribal Outreach: Summary of Engagement Activities","document_id":"BOEM-2023-0027-2174"},{"title":"Redline Version of 30 CFR Parts 550, 556, and 590 Showing Amendments from the Risk Management and Financial Assurance for OCS Lease and Grant Obligations Final Rule","document_id":"BOEM-2023-0027-2173"},{"title":"NEPA Categorical Exclusion Review for Final Rule","document_id":"BOEM-2023-0027-2171"},{"title":"SFAA 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