BOEM Issues Final Rule Ammending Criteria for Financial Assurance of Fossil Fuel Facilities

On April 24, 2024, the Department of the Interior's Bureau of Ocean Energy Management issued the Risk Management and Financial Assurance for OCS Lease and Grant Obligations Rule. 89 Fed. Reg. 31,544 (Apr. 24, 2024). The rule increases the amount of supplemental financial assurance required from lessees and grant holders to cover decommissioning activity costs by around $6.9 billion.