The Bureau of Ocean Energy Management (BOEM) released its long awaited new Notice to Lessees and Operators (NTL) updating the procedures and criteria used to determine when and if additional supplemental financial assurance is required for an Outer Continental Shelf (OCS) lease, pipeline right-of-way, or right-of-use and easement.  New BOEM NTL No. 2016-N01, dated July 12, 2016, takes effect on September 12, 2016 and supersedes and replaces NTL No. 2008-N07, which was commonly referred to by industry as the “supplemental bond” NTL.
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