Leasing of Sulphur or Oil and Gas in the Outer Continental Shelf-Revision of Requirements Governing Surety Bonds for Outer Continental Shelf Leases
oil-gas-leasing · Bureau of Land Management · Published 2001-12-03 · Effective 2002-01-02 · 66 FR 60147
Document
Document number
01-29899
Federal Register citation
66 FR 60147
CFR reference
30 CFR 256
Type
Rule
Action
Final rule.
Category
oil-gas-leasing
Sub-agency
Bureau of Land Management
Publication date
2001-12-03
Effective date
2002-01-02
Abstract
This rule modifies requirements governing surety bonds for activities on the Outer Continental Shelf (OCS). These changes codify the terms and conditions under which a surety will be relieved of responsibility when MMS terminates the period of liability of a bond. Codifying these terms and conditions is necessary to clarify the responsibilities of the lessee and the surety after the lease expires.