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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 43 - Public Lands: Interior |
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Subtitle B - Regulations Relating to Public Lands |
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Chapter II - Bureau of Land Management, Department of the Interior |
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SubChapter C - Minerals Management (3000) |
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Part 3100 - Oil and Gas Leasing |
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Subpart 3106 - Transfers by Assignment, Sublease or Otherwise |
§ 3106.6-1 - Lease bond.
Latest version.
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§ 3106.6-1 Lease bond.
Where a lease bond is maintained by the lessee or operating rights owner (sublessee) in connection with a particular lease, the transferee of record title interest or operating rights in such lease shall furnish, if bond coverage continues to be required, either a proper bond or consent of the surety under the existing bond to become co-principal on such bond if the transferor's bond does not expressly contain such consent. Where bond coverage is provided by an operator, the new operator shall furnish an appropriate replacement bond or provide evidence of consent of the surety under the existing bond to become co-principal on such bond.