# 30 CFR § 556.516: What does BOEM do with my bid?

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/ecfr-30-556.516

## Section

- **Citation:** 30 CFR § 556.516
- **Heading:** What does BOEM do with my bid?
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** September 22, 2026
- **Source:** Publisher's official text
- **Location:** Title 30—Mineral Resources > CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE > PART 556—LEASING OF SULFUR OR OIL AND GAS AND FINANCIAL ASSURANCE REQUIREMENTS IN THE OUTER CONTINENTAL SHELF > Subpart E—Issuance of a Lease > How Does BOEM Act on Bids?

## Text

(a) BOEM opens the sealed bids at the place, date, and hour specified in the final notice of sale for the sole purpose of publicly announcing and recording the bids. BOEM does not accept or reject any bids at that time.
(b) BOEM reserves the right to reject any and all bids received, regardless of the amount offered. BOEM accepts or rejects all bids within 90 days of opening. BOEM reserves the right to extend that time if necessary, and in that event, BOEM will notify bidder(s) in writing prior to the expiration of the initial 90-day period, or of any extension. Any bid not accepted within the prescribed 90-day period, or any extension thereof, will be deemed rejected. If your bid is rejected, BOEM will refund any money deposited with your bid, plus any interest accrued.
(c) If the highest bids are a tie, BOEM will notify the bidders who submitted the tie bids. Within 15 days after notification, those bidders, if qualified, and not otherwise prohibited from bidding together, may:
(1) Agree to accept the lease jointly. The bidders must notify BOEM of their decision and submit a copy of their agreement to accept the lease jointly.
(2) Agree between/among themselves which bidder will accept the lease. The bidders must notify BOEM of their decision.
(d) If no agreement is submitted pursuant to paragraph (c) of this section, BOEM will reject all the tie bids.
(e) The Attorney General, in consultation with the Federal Trade Commission, has 30 days to review the results of the lease sale before BOEM may accept the bid(s) and issue the lease(s).

## Nearby sections

- [30 CFR § 556.500 § 556.500 Once qualified, how do I submit a bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.500.md)
- [30 CFR § 556.501 § 556.501 What information do I need to submit with my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.501.md)
- [30 CFR § 556.511 § 556.511 Are there restrictions on bidding with others and do those restrictions affect my ability to bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.511.md)
- [30 CFR § 556.512 § 556.512 What bids may be disqualified?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.512.md)
- [30 CFR § 556.513 § 556.513 When must I file a statement of production?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.513.md)
- [30 CFR § 556.514 § 556.514 How do I determine my production for purposes of the restricted joint bidders list?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.514.md)
- [30 CFR § 556.515 § 556.515 May a person be exempted from joint bidding restrictions?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.515.md)
- [30 CFR § 556.516 § 556.516 What does BOEM do with my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.516.md)
- [30 CFR § 556.517 § 556.517 What may I do if my high bid is rejected?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.517.md)
- [30 CFR § 556.520 § 556.520 What happens if I am the successful high bidder and BOEM accepts my bid?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.520.md)
- [30 CFR § 556.521 § 556.521 When is my lease effective?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.521.md)
- [30 CFR § 556.522 § 556.522 What are the terms and conditions of the lease and when are they published?](https://www.frixlaw.com/law-library/statutes/ecfr-30-556.522.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/ecfr-30-556.516. Check the current official text before relying on it. Not legal advice.