In response to commenters' ideas that BOEM increase clarification that this option is obtainable for transformed circumstances or for getting new lease passions, BOEM thinks the proposed text in thirty CFR 556.
A summary of all opinions obtained relating to 3rd-occasion guarantees and BOEM's corresponding responses concerning the provisions to evaluate third-bash guarantors are available in section 6.1 with the Reaction to Community Comments.
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Commenters asserted that organizations would need to ascertain a proxy credit score using the “intricate money designs of S&P and Moody's”, which might be time consuming, Which providing the data that BOEM proposed to involve as a way to conduct a proxy rating would characterize a load for get more info modest companies. Reaction:
BOEM disagrees While using the commenter's assertion the Division must not call for supplemental bonding for ROW pipelines which might be servicing and related to high benefit leases.
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A commenter recommended which the Division shouldn't call for supplemental bonding for RUEs that happen to be servicing and connected to substantial price leases due to the fact some companies own fascination while in the reserves linked to a RUE granted to take care of a System operational on an expired lease for servicing generation on another lease. Response:
The Office proposed to exchange the term “sulphur” Together with the more modern day spelling of “sulfur” through the entire regulatory textual content the place it has not been Earlier changed.
Commenters recommended that BOEM really should be steady and intentional in its use of “financial assurance,” “stability,” and “bond” inside the final rule.