30 CFR 556.700 - May I assign or sublease all or any part of the record title interest in my lease?

Regulations last checked for updates: May 18, 2024

Title 30 - Mineral Resources last revised: May 15, 2024

View all text of Subpart G [§ 556.700 - § 556.716]

§ 556.700 - May I assign or sublease all or any part of the record title interest in my lease?

(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.

authority: 30 U.S.C. 1701 note, 30 U.S.C. 1711,31.S.C. 9701, 42 U.S.C. 6213,43.S.C. 1331 note, 43 U.S.C. 1334,43.S.C. 1801-1802

source: 81 FR 18152, Mar. 30, 2016, unless otherwise noted.

cite as: 30 CFR 556.700