GroundRules
30 CFR 585.433: What must I do after my lease or grant terminates?
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 585—RENEWABLE ENERGY ON THE OUTER CONTINENTAL SHELF
- Subpart E—Lease and Grant Administration
(a) After your lease or grant terminates, you must:
(1) Make all payments due, including any accrued rentals and deferred bonuses; and
(2) Perform any other outstanding obligations under the lease or grant within 6 months.
(b) Within 2 years following termination of a lease or grant, you must remove or dispose of all facilities, installations, and other devices permanently or temporarily attached to the seabed on the OCS in accordance with your BOEM-issued lease for hydrokinetic facilities or an application approved by BSEE under 30 CFR part 285, subpart I.
(c) If you fail to comply with your BOEM-issued lease for hydrokinetic facilities or decommissioning application:
(1) BOEM may call for the forfeiture of your financial assurance; and
(2) You remain liable for removal or disposal costs and responsible for accidents or damages that might result from such failure.
Collected 2026-08-27T02:25:24Z. Source file · JSON