GroundRules
30 CFR 553.28: What financial test procedures must I use to evaluate the amount of self-insurance allowed as OSFR evidence based on unencumbered assets?
Where this section sits in the code
- Title 30—Mineral Resources
- CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR
- SUBCHAPTER B—OFFSHORE
- PART 553—OIL SPILL FINANCIAL RESPONSIBILITY FOR OFFSHORE FACILITIES
- Subpart C—Methods for Demonstrating OSFR
(a) Divide the total amount of the stockholders'/owners' equity listed on the balance sheet by 4.
(b) Divide the value of the unencumbered U.S. assets by 2.
(c) The smaller number calculated under paragraphs (a) or (b) of this section is the maximum allowable amount you may use to demonstrate OSFR under this method.
Collected 2026-08-27T02:25:24Z. Source file · JSON