§ 556.700 May I assign or sublease all or any part of the record title interest in my lease?
FederalRegulations
Ask Donna
How this section applies to your facts.
Title 30 CFR: Mineral Resources › Chapter V: BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR › Part 556: LEASING OF SULFUR OR OIL AND GAS AND FINANCIAL ASSURANCE REQUIREMENTS IN THE OUTER CONTINENTAL SHELF › Subpart G: Transferring All or Part of the Record Title Interest in a Lease › § 556.700: § 556.700 May I assign or sublease all or any part of the record title interest in my lease?
Text
(a) With BOEM approval, you may assign your whole, or a partial record title interest in your entire lease, or in any aliquot(s) thereof.
(b) With BOEM approval, you may sever all, or a portion of, your operating rights.
(c) You must request approval of each assignment of a record title interest and each sublease of an operating rights interest. Each instrument that transfers a record title interest must describe, by aliquot parts, the interest you propose to transfer. Each instrument that severs an operating rights interest must describe, by officially designated aliquot parts and depth levels, the interest proposed to be transferred.
This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.