A Secret Weapon For seabet
A Secret Weapon For seabet
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to collect supplemental economic assurance and from another separate technical improvements A part of this rule. Within this scenario, BOEM could nonetheless collect supplemental economic assurance using the Beforehand approved BSEE deterministic estimate for decommissioning charges. BOEM is amending the next polices as follows:
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Using this rulemaking, the Division is finalizing an amendment to revise the criteria utilised To guage the need for supplemental money assurance from the present 5 conditions—economical capacity, projected money toughness, enterprise security, dependability in Conference obligations according to credit score score or trade references, and file of compliance with legislation, regulations, and lease terms—to one of two requirements: (one) credit score ranking and (2) the ratio of the value of proved reserves to decommissioning liability connected with People reserves. Exclusively, the Office is finalizing using an financial investment grade credit history rating threshold (or proxy credit history rating equal) and also a minimum amount three-to-1 ratio of the worth of proved reserves to decommissioning liability affiliated with Individuals reserves to ascertain if a lessee is needed to provide supplemental economical assurance.
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A commenter also highlighted that BSEE, in its modern ultimate rule arising within the Office's 2020 proposed rule, declined to retain an charm bond provision that could have necessary the putting up of the charm bond to get a stay of a BSEE decommissioning order.
codifying the use of the BSEE probabilistic estimates of decommissioning Expense for identifying the level of supplemental financial assurance required,
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Quite a few commenters expressed support for DOI's proposal not to call for supplemental money assurance on leases where at the least a single co-lessee meets the credit rating threshold. Reaction:
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A commenter advised that the Office must not call for supplemental bonding for RUEs that happen to be servicing and affiliated with superior benefit leases because some corporations own fascination from the reserves related to a RUE granted to maintain a platform operational on an expired lease for servicing output on A further lease. Response:
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