DOI Proposes New Rule Reducing Costs for Offshore Oil and Gas

On March 5, 2026, the Department of the Interior and Bureau of Ocean Energy Management announced a proposed rule to amend its existing risk management and financial assurance regulations. The new rule would significantly reduce the amount of supplemental financial assurance required from oil, gas, and sulfur lessees operating on the Outer Continental Shelf. The BOEM estimates that the reduction of financial burden would significantly increase the amount of capital available for oil and gas exploration and production. 91 Fed. Reg. 11212 (Mar. 9, 2026). The proposed rule would support Executive Order 14154, "Unleashing American Energy."