Offshore oil and gas companies lose a year of grace for data extensions

The US government removed an expired grace period that allowed offshore oil and gas companies an extra year to submit data. This means companies must now submit their data on time, without the previous one-year delay.

Offshore oil and gas companies previously had an unwritten one-year grace period for submitting data, which effectively meant they could delay compliance. This correction removes that informal extension. It means the Bureau of Ocean Energy Management can now enforce data submission deadlines as written, without companies assuming they have an extra year.