§ 556.700. May I assign or sublease all or any part of the record title interest in my lease?
103 words·~1 min read·
/us/cfr/t30/s§ 556.700·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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.