News & Analysis as of

Oil & Gas BOEM Offshore Wind

Vinson & Elkins LLP

BOEM Releases Tougher Financial Assurance Requirements for Offshore Oil and Gas Operations

Vinson & Elkins LLP on

New and additional bonding requirements for certain companies operating on the Outer Continental Shelf (“OCS”) will take effect in June as a result of a recent rulemaking. These new requirements will be phased in over a...more

Holland & Knight LLP

Interior Department Announces Five-Year Lease Plan for Offshore Oil and Gas

Holland & Knight LLP on

The U.S. Department of the Interior on Sept. 29, 2023, announced its long-awaited Five-Year Offshore Leasing Plan as required by the Outer Continental Shelf Lands Act (the Plan)....more

White & Case LLP

Pivot potential: A deep dive into offshore wind in the Gulf of Mexico

White & Case LLP on

After years of blunted growth and false starts, the US is finally scaling up offshore wind. While most progress had been spurred by state policies incenting projects in the Atlantic Ocean off the East Coast, the federal...more

Sheppard Mullin Richter & Hampton LLP

Gulf of Mexico Offshore Auction Falls Short of Expectations

On August 29th, the Bureau of Ocean Energy Management (BOEM) held the first auction for offshore wind areas in the Gulf of Mexico. Sheppard Mullin’s preview of the auction can be accessed here...more

Vinson & Elkins LLP

BOEM Bonding: What You Need to Know About New Financial Assurance Requirements Proposed for Offshore Oil and Gas Drilling

Vinson & Elkins LLP on

The Biden administration has proposed changes regarding when oil, gas, and sulfur lessees and certain other parties operating in the offshore Outer Continental Shelf must post additional bonds or other “supplemental financial...more

Perkins Coie

The Inflation Reduction Act’s Impact on Offshore Wind Leasing

Perkins Coie on

The $437 billion Inflation Reduction Act, H.R. 5376 (IRA), signed into law on August 16, 2022, by President Biden, makes historic investments in clean energy. The IRA allocates $369 billion toward energy security, carbon...more

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