The Bureau of Ocean Energy Management (BOEM) announced Jan. 25 it increased the maximum daily civil monetary penalties contained in BOEM regulations, effective immediately.
For violations under the Outer Continental Shelf Lands Act, BOEM raised the maximum civil monetary penalties per day per violation to $54,352, up from the 2023 max of $52,646 per day. and to $57,617, up from $55,808 per day in 2023 for violations under the Oil Pollution Act of 1990.
BOEM published the final rule on Jan. 25, in accordance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 that requires federal agencies to adjust the level of civil monetary penalties for inflation annually.
Recommended Reading
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
2024-03-13 - TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.