H.R. 678 — Expression of Interest Sensibility Act

This section amends the federal onshore oil and gas competitive leasing process to require payment of a fee for an expression of interest (EOI) under new subsection (q)(2)(B), as applicable, in addition to the remainder of the bonus bid and first-year rental, as a condition for issuing a lease within 60 days of a successful bid. It further revises subsection 17(q) to (1) authorize any person to submit an EOI for available lease lands; (2) direct the Secretary to assess an EOI fee against the first EOI submitter if no bid is received at the lease sale or against the successful bidder if a bid is received; and (3) provide that an EOI remains active for a term of not less than five years unless the covered land is offered at a lease sale. (As background, the process authorizes the Secretary of the Interior to lease federal lands known or believed to contain oil or gas deposits via quarterly oral auctions to the highest responsible qualified bidder meeting the $10 per acre national minimum acceptable bid, with royalties of not less than 16⅔% of production value.)