S. 4715 · In committee · Energy

Offshore Leasing Standards and Accountability Act of 2026

What it does

Establishes fitness-to-operate certification standards for offshore oil and gas operators, requiring the Secretary to verify past compliance with environmental and safety laws over a 10-year period before issuing, extending, or approving lease transfers.
Requires operators seeking certification to demonstrate investment-grade credit ratings, no bankruptcy filings in the prior 10 years, and sufficient financial capacity to cover current and projected decommissioning liabilities with full collateralization or financial security.
Mandates operators disclose current and projected decommissioning liabilities across all Federal and State leases, inspection results, non-producing well counts and status, and safety incidents or spills over a 15-year period.
Directs the Secretary to conduct annual compliance assessments of certified operators and to suspend certification and impose remedies if operators fail to maintain standards.

Jul 15, 2026: Committee on Energy and Natural Resources Subcommittee on Public Lands, Forests, and Mining. Hearings held.

Committee: Senate Public Lands, Forests, and Mining Subcommittee