§ 556.810. What must I do with respect to the designation of operator on a lease when a transfer of operating rights ownership is submitted?
106 words·~1 min read·
/us/cfr/t30/s§ 556.810·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)If a transfer of ownership of operating rights only changes the percentage ownership; no new parties, new aliquots, or new depths are involved in the transaction; and no change of designated operator is made, you will not need to submit a new designation of operator form.
(b)In all cases other than that in paragraph
(a)of this section, you must submit new designation of operator forms, in accordance with § 550.143 of this chapter. In the event that you are transferring multiple operating rights interests, you must comply with this requirement for each interest that does not fall within paragraph
(a)of this section.