C.F.R. » Title 30 » CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR › SUBCHAPTER B—OFFSHORE › 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

30 C.F.R. § 556.700

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

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(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.

Notes of Decisions
Cited in 2 cases (2 in the last 5 years), 2021–2021 · leading case: Fieldwood Energy LLC & The Off. Comm. of Unsecured Creditors (Bankr. S.D. Tex. 2021).
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Fieldwood Energy LLC & The Off. Comm. of Unsecured Creditors (Bankr. S.D. Tex. 2021). “30 CFR §§ 556.700 ; 556.800. BOEM’s regulations recognize that lease owners “may create, transfer, or assign economic interests without BOEM approval,” 30 C.”
QuarterNorth Energy LLC & certain of its affilia v. Atl. Mar. Servs. LLC (Bankr. S.D. Tex. 2021). “30 CFR §§ 556.700 ; 556.800. BOEM’s regulations recognize that lease owners “may create, transfer, or assign economic interests without BOEM approval,” 30 C.”
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