Notice2024-01070
Procedures for Determining Bid Adequacy at Outer Continental Shelf Oil and Gas Lease Sales
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 22, 2024
Issuing agencies
Interior DepartmentOcean Energy Management Bureau
Abstract
The Bureau of Ocean Energy Management (BOEM) has finalized revisions to its bid adequacy procedures to ensure the receipt of fair market value from Outer Continental Shelf (OCS) oil and gas lease sales. BOEM intends to assess bids using the revised procedures beginning with the first lease sale under the 2024-2029 National OCS Oil and Gas Leasing Program. The revised procedures and BOEM's response to public comments on the draft procedures are available at https://www.boem.gov/Fair-Market-Value.
Full Text
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<title>Federal Register, Volume 89 Issue 14 (Monday, January 22, 2024)</title>
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[Federal Register Volume 89, Number 14 (Monday, January 22, 2024)]
[Notices]
[Pages 3949-3950]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-01070]
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DEPARTMENT OF THE INTERIOR
Bureau of Ocean Energy Management
[Docket No. BOEM-2023-0008]
Procedures for Determining Bid Adequacy at Outer Continental
Shelf Oil and Gas Lease Sales
AGENCY: Bureau of Ocean Energy Management, Interior.
ACTION: Notification of procedural changes.
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SUMMARY: The Bureau of Ocean Energy Management (BOEM) has finalized
revisions to its bid adequacy procedures to ensure the receipt of fair
market value from Outer Continental Shelf (OCS) oil and gas lease
sales. BOEM intends to assess bids using the revised procedures
beginning with the first lease sale under
[[Page 3950]]
the 2024-2029 National OCS Oil and Gas Leasing Program. The revised
procedures and BOEM's response to public comments on the draft
procedures are available at <a href="https://www.boem.gov/Fair-Market-Value">https://www.boem.gov/Fair-Market-Value</a>.
FOR FURTHER INFORMATION CONTACT: Matt Frye, Chief, Resource Evaluation
Division, Office of Strategic Resources, at (703) 787-1514 or email at
<a href="/cdn-cgi/l/email-protection#d9b4b8adadf7bfaba0bc99bbb6bcb4f7beb6af"><span class="__cf_email__" data-cfemail="d4b9b5a0a0fab2a6adb194b6bbb1b9fab3bba2">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: On January 19, 2023, BOEM published its
proposed revised bid adequacy procedures in the Federal Register
(``Modifications to the Bid Adequacy Procedures for Offshore Oil and
Gas Lease Sales,'' 88 FR 3433) and requested public comments on the
proposed revisions. The comment period closed on March 6, 2023. BOEM
received a total of 15,537 comments from three individuals and four
organizations, including one submission with 15,531 signatures. Thus, a
total of seven distinct comments \1\ were received.
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\1\ <a href="https://www.regulations.gov/document/BOEM-2023-0008-0001/comment">https://www.regulations.gov/document/BOEM-2023-0008-0001/comment</a>.
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BOEM reviewed all comments received and addressed those comments
directly related to the proposed revised bid adequacy procedures.
BOEM's response to those comments can be found at <a href="https://www.boem.gov/Fair-Market-Value">https://www.boem.gov/Fair-Market-Value</a>. While BOEM did not make any substantive changes to
its revised bid adequacy procedures based on the feedback received,
BOEM provided additional detail on a specific calculation included in
the revised procedures. The revised procedures have been finalized and
are available at <a href="https://www.boem.gov/Fair-Market-Value">https://www.boem.gov/Fair-Market-Value</a>. BOEM intends
to assess bids using the revised procedures beginning with the lease
sales in the next National OCS Oil and Gas Leasing Program.
Authority: 43 U.S.C. 1331 et seq. (Outer Continental Shelf Lands
Act, as amended) and 30 CFR part 556.
Elizabeth Klein,
Director, Bureau of Ocean Energy Management.
[FR Doc. 2024-01070 Filed 1-19-24; 8:45 am]
BILLING CODE 4340-98-P
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