Expression of Interest Sensibility Act

This bill, the Expression of Interest Sensibility Act, would amend the Mineral Leasing Act to formalize and expand the role of an “expression of interest” (EOI) in federal oil and gas leasing. It creates and assesses a fee for EOIs and specifies when and against whom that fee is charged—either to the first person who submits an expression if the land is offered with no bid, or to the successful bidder if there is a bid. It also adds a minimum active term for an EOI of at least five years, unless the land is offered at a lease sale. Additionally, the bill adjusts the lease-issuance deadline to account for the EOI fee. In short, the bill introduces a new, chargeable EOI mechanism intended to capture upfront value from interested parties and clarify how long an EOI remains valid.