StacksVerified U.S. regulatory reference

30 CFR §585.433

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
  1. (a)After your lease or grant terminates, you must:
    1. (1)Make all payments due, including any accrued rentals and deferred bonuses; and
    2. (2)Perform any other outstanding obligations under the lease or grant within 6 months.
  2. (b)Within 2 years following termination of a lease or grant, you must remove or dispose of all facilities, installations, and other devices permanently or temporarily attached to the seabed on the OCS in accordance with your BOEM-issued lease for hydrokinetic facilities or an application approved by BSEE under 30 CFR part 285, subpart I.
  3. (c)If you fail to comply with your BOEM-issued lease for hydrokinetic facilities or decommissioning application:
    1. (1)BOEM may call for the forfeiture of your financial assurance; and
    2. (2)You remain liable for removal or disposal costs and responsible for accidents or damages that might result from such failure.