Source: Independent Petroleum Association of America – Press Release/Statement:
Headline: IPAA Comments on Offshore Company Financial Assurance
This week, IPAA submitted formal comments to the Bureau of Ocean Energy Management (BOEM) rulemaking regarding offshore company financial assurance and bonding. While IPAA represents member companies that advocated for differing interests with this rule, we are ultimately glad to see the Administration try to offer solutions to the current system, which all Member companies agree is broken. Furthermore, we commend the Administration for going through the proper regulatory channels to propose this rule.