Expedited Offshore Permitting Act of 2011 - Amends the Outer Continental Shelf Lands Act to direct the Secretary of the Interior to approve or disapprove any application for a permit for drilling a well under an approved exploration or development plan for an oil and gas lease, or any application to amend a previously approved permit under such a lease, within 30 days after its submission.
Authorizes the Secretary to disapprove an application if any proposed activity under the permit: (1) would result in serious harm or damage to life (including fish and other aquatic life), to property, to any mineral (in areas leased or not leased), to the national security or defense, or to the marine, coastal, or human environment; and (2) cannot be modified to avoid such condition.
Requires the Secretary, after disapproving a permit application, if there is no other well on areas subject to the applicable leases capable of production in paying quantities, to pay to the record title holders of any of the applicable leases the amount of any bonus bid paid for the lease plus interest.