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BOEM does not imagine the expression “financial assurance” is at any time utilized for a “method for furnishing stability” In this particular rulemaking and, alternatively, is used to explain any of numerous different types of securities which BOEM accepts to ensure overall performance of obligations. As such, BOEM thinks the term and affiliated definition is suitable.

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In addition to being offered from the docket, BOEM will article an Digital duplicate from the files connected to this final action at: ​laws-and-guidance.

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Several commenters expressed worries which the preamble for the proposed rule alluded to checking of credit history rankings, although the regulatory textual content did not point out the monitoring.

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Omitting the existence of predecessor lessees from your Examination of no matter if to waive the need of supplemental economical assurance to get a existing lessee—the strategy getting finalized listed here—addresses more info many affiliated troubles. It makes sure that The existing lessees possess the economic functionality to meet their decommissioning obligations.

There are plenty of external aspects which will effects the value of reserves. BOEM's use of the metric is only to find out the chance that a lease could be obtained, due to the worth of the reserves still left around the lease, by a fiscally balanced company that might then be chargeable for lease obligations. Remark: