Sec. 201 Reinstatement of offshore oil and gas leases
Section 18 of the Outer Continental Shelf Lands Act (43 U.S.C. 1344) is amended by adding at the end the following:
“(i) The Secretary is authorized, upon petition of a prior leaseholder, to reinstate any Expired Producible Lease in the offshore Gulf or Mexico if such reinstatement furthers the purposes and objectives of this Act. The Secretary shall act on such petitions as soon as possible after receipt thereof, and in any event, within 90 days of receipt of such petition or prior to the next scheduled lease sale in which such lease would be included, whichever is earlier. Any lease application pending for more than 90 days shall be reported to Congress, the Secretary of the Interior, and the Assistant Secretary for Land Management every 15 days until the application is acted upon.”