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Extra commenters asked for that BOEM include things like a phased provision for get-togethers which were exempt but then later on couldn't fulfill the exemption criteria thanks to changed situation Which BOEM incorporate this kind of provisions for parties that attain OCS lease or grant passions in the main 3 several years right after implementation of the final rule. Response:
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) as discussed in the subsequent subsections. A summary of all responses received with regards to revisions to definitions and BOEM's corresponding responses can be found in section ten with the Response to Public Reviews.
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Lessees are jointly and severally accountable for the lease decommissioning obligations that accrue all through their ownership, in addition to people who accrued just before their ownership, which implies that each recent co-lessee is chargeable for the total obligation and BSEE may go after comprehensive effectiveness from any unique recent lessee. See, e.g.,
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BOEM acknowledges the commenters' aid to the proposal of P70. The Division is finalizing in thirty CFR 556.901, as proposed, the use of P70 to ascertain the economic assurance demanded for Homes where by The present lessee does not have an expenditure quality credit score ranking or the ratio of the worth in the proved reserves to decommissioning liabilities affiliated with Individuals reserves is not really higher than or equivalent to three-to-1.
Numerous commenters supported the use of the P70 benefit and advisable that BOEM adopt the P70 value in the ultimate rule for consistency Together with the said objective of the proposed rule: in order check here that latest lessees are monetarily able to perform their decommissioning obligations. Reaction:
BOEM agrees Together with the commenters that the decommissioning legal responsibility shouldn't be double counted; it is not the Bureau's intent to double depend the decommissioning legal responsibility. The laws are apparent that BOEM is asking for the discounted value of the reserves ( e.g.,