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Wednesday, May 13, 2020 | History

3 edition of Pitfalls in interior"s new accelerated offshore leasing program require attention found in the catalog.

Pitfalls in interior"s new accelerated offshore leasing program require attention

United States. General Accounting Office

Pitfalls in interior"s new accelerated offshore leasing program require attention

report

by United States. General Accounting Office

  • 221 Want to read
  • 4 Currently reading

Published by U.S. General Accounting Office in Washington, D.C .
Written in English

    Subjects:
  • Oil and gas leases -- United States.,
  • Petroleum in submerged lands -- United States.

  • Edition Notes

    Statementby the Comptroller General of the United States.
    The Physical Object
    Paginationv, 88 p. ;
    Number of Pages88
    ID Numbers
    Open LibraryOL14511696M

    CHAPTER Lease Construction. 1. Overview. Under the new standard, lease terms can have significant repercussions for an organization’s financials, so both Lerner and DeGenova described the need to educate all the players — including procurement, real estate, IT, and legal — about the potential for negative impacts of particular lease terms.

      Back to table of contents. OFFSHORE DRILLING Interior updates shutdown plan to push 5-year leasing policy. Kelsey Brugger, E&E News reporter. Published: Tuesday, Janu Each new year the equipment leasing industry is enjoying tremendous growth. This is partly due to the benefits of obsolescence avoidance, off balance sheet financing, tax issues, availability and overall flexibility leasing offers. Worldwide, leasing is a multi-trillion dollar industry that continually evolves with each new leasing Size: KB.

    By Angela Franklin and Andy LeMieux. Pursuant to the Federal Onshore Oil and Gas Leasing Reform Act of (“ Reform Act”), when operating on federal lands, an adequate bond (or other financial assurance) must be posted (1) before commencement of any surface disturbing activities related to drilling to ensure reclamation of lands and waters adversely affected by oil and gas operations. BOEMRE Order No. M09PC CVA Workshop, New Orleans Oct., 1. INTRODUCTION. A workshop was held at New Orleans on October , on the Role of the Certified Verification Agent (CVA) for Offshore Wind Structures. The Bureau of Ocean Energy Management, Regulations and Enforcement (BOEMRE).


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Pitfalls in interior"s new accelerated offshore leasing program require attention by United States. General Accounting Office Download PDF EPUB FB2

Get this from a library. Pitfalls in interior's new accelerated offshore leasing program require attention: report. [United States. General Accounting Office.]. Spokesmen for the offshore oil drilling industry said today that the industry is able and willing to respond to the greatly accelerated offshore leasing program announced by Interior Secretary.

Five-Year Offshore Oil and Gas Leasing Program for Status and Issues in Brief Congressional Research Service 2 The th Congress could influence the five-year program (either the program currently in force or the new program under development) through oversight or by enacting legislation with requirements for the Size: 1MB.

CHAPTER 2: New or Replacing Lease. that the new processes require, even if G-REX does not yet specifically require those documents.

The G-REX system breaks the leasing process down into seven phases. The processes under each phase require the Leasing Specialist or Lease Contracting Officer to perform certain tasks in G-REX, some of which.

An effective operational offshore company often used is the leasing company. Leasing has been utilized in the acquisition of assets and there is a split benefit gained through a leasing company. Tax benefits accrue in the way of substantial depreciation deductions reducing taxable income to one party, while the other party may also be entitled.

Five-Year Program for Offshore Oil and Gas Leasing: History and Program for Congressional Research Service 2 issued a record of decision approving the final program on Janu The final program was revised from a March proposed program (PP)10 and a January draft proposed program (DPP) The final program scheduled 11 lease sales on the OCS: 10 in the Gulf ofFile Size: 1MB.

Release of the draft is an early step in a multi-year process to develop a final offshore leasing program for Before the program is finalized, the public will continue to have multiple opportunities to provide input. Today's draft proposal was informed by more thancomments from a wide variety of stakeholders and states.

The US Department of the Interior today (Tuesday) announced details of a proposed oil and gas leasing program for US Secretary of the Interior Sally Jewell (pictured, right, with President Obama) and Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper said the draft proposed program includes 14 potential lease sales in eight planning areas – 10 sales in the.

Potential Pitfalls of Continuous Drilling Provisions in HBP Fee Leases Ap David Hatch Fee Lease Series, Lease Provisions mineral ownership, title owner A common but often overlooked oil and gas lease provision is the “continuous drilling” or “continuous operations” provision.

Keys to Success in Leasing Instructor’s Guide National Apartment Leasing Professional 2 2 Whether you are a subject matter expert or lay person a seasoned instructor or a new.

This education program was developed by Leasing, Operations, Marketing and Training. Back to E&E News index page. OFFSHORE WIND Interior leasing program seen as 'test case' for marine spatial planning. Phil Taylor, E&E reporter.

Greenwire: Thursday, J @article{osti_, title = {Oil and gas - offshore leasing}, author = {Ritchie, C.J.}, abstractNote = {Agency decisions to allow mineral development may be validated by judicial review despite uncertainties as to the impact of development on wildlife and human inhabitants.

The Alaska Supreme Court recently upheld the findings of the Commissioner of the Department of Natural Resources. Offshore Leasing, Exploration and Development Process Chart.

As required by the Outer Continental Shelf Lands Act, the U.S. Department of the Interior has a well-established process in place for managing offshore oil and natural gas leasing, exploration and development. This week, the Department of Interior released a draft proposal for the next offshore leasing plan.

This Outer Continental Shelf (OCS) Oil and Gas Leasing Draft Proposed Program (DPP) lays out how Interior would govern the lease and management of resources along the coasts. The proposal would make available nearly 80 percent of undiscovered, technically recoverable. The 8(g) zone is the offshore region within three miles of a state shoreline.

A portion (27%) of revenue from production in the 8(g) zone is distributed to the respective states that border the zone. The 8(g) zone is named for the section within the Outer Continental Shelf Lands Act. Release of the Proposed Final Program, along with the accompanying Final Programmatic Environmental Impact Statement, is one of the final steps in a multi-year process that was initiated in June to develop a final offshore leasing program for Program is scheduled for the Cook Inlet Planning Area on J The first lease sale under the Program is scheduled for the Gulf of Mexico Regionwide Planning Area on Augwhich in a new approach to leasing in the Gulf of.

Offshore contracting pitfalls 7 Introduction When working in a global, high-risk industry, it is vital that offshore members negotiate appropriate contractual terms that provide as much protection as possible from disproportionate liabilities. They also need to have.

Interior Secretary Ryan Zinke announced a draft five-year offshore leasing plan for to last week that would commit over 90 percent of the total Outer Continental Shelf (OCS) acreage and over 98 percent of undiscovered, technically recoverable oil and gas resources in federal offshore areas available for future exploration and development.

The plan proposes 47 lease sales, compared. The Trump administration announced an initial step toward a new offshore leasing plan that could mean new drilling rights in federal waters of the Arctic. Listen now. Three companies, A, B, and C, form a JOA for the purpose of executing an offshore drilling program.

To fulfill the JOA’s objective, a specific asset (e.g., a drill rig) will be necessary. Company A will act as the counterparty to major contracts of the JOA, including a five-year contract to lease a specific drilling rig from its owner (Lessor X).raised questions about the prospective and retroactive application of new regulations.

In that case, an OCS operator challenged whether new regulations may alter an OCS lease. The case arose after the DOI, in response to the Deepwater Horizon.

incident, issued new guidance increasing the required bond amounts that offshore lessees Author: Dana E. Dupre. On January 4,U.S. Interior Secretary Ryan Zinke announced a Draft Program Proposal for the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for According to the Interior Department’s news release on the proposal (Secretary Zinke Announces Plan For Unleashing America's Offshore Oil and Gas Potential, 1/4/18), the draft.