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A summary of all remarks received regarding 3rd-bash ensures and BOEM's corresponding responses regarding the provisions To judge 3rd-celebration guarantors can be found in part six.one of your Reaction to General public Remarks.
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BOEM agrees Along with the commenters' assertion which the initial foundation bond total was determined many years in the past and acknowledges that this price really should be reevaluated. Simply because BOEM did not propose a completely new value inside the NPRM and, for that reason, are unable to revise it in the ultimate rule, BOEM strategies to evaluate the specific values of the base supplemental money assurance for RUEs, ROWs, and leases in the long run rulemaking.
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On top of that, DOI also proposed to use the costs of decommissioning resulting from BSEE's new methodology, which offers probabilistic fees employing a database of noted decommissioning expenditures over the OCS, to ascertain the amount of supplemental monetary assurance expected, as discussed in portion III.B of this preamble.
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BOEM acknowledges the commenters' aid to the proposal of P70. The Office is finalizing in website 30 CFR 556.901, as proposed, the use of P70 to find out the economical assurance needed for Houses where The present lessee does not have an investment grade credit history rating or even the ratio of the worth from the proved reserves to decommissioning liabilities linked to These reserves is just not greater than or equal to three-to-1.
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On October 16, 2020, DOI issued a see of proposed rulemaking (eighty five FR 65904) to revise specific BSEE guidelines concerning decommissioning orders as well as Office's money assurance rules which are administered by BOEM. In the joint proposed rule, the Office proposed to regulate the supplemental monetary assurance conditions to replicate the danger mitigation presently provided by the joint and several other legal responsibility of monetarily stable co-lessees and predecessor lessees. The Section's laws keep predecessors liable for some or every one of the decommissioning every time a existing lessee is unable to accomplish its obligations.